Cellecor Gadgets Limited’s initial public offering (IPO) opened for subscription on September 15, 2023, and it is set to close on September 20, 2023. Investors have just a few hours left to apply for this SME issue, which is backed by Sunil Singhania’s Abakkus Asset Manager.
India Ahead Venture Trust, one of the anchor investors in the public offer, is managed by Abakkus Asset Manager. The book build issue is priced in the range of ₹87 to ₹92 per equity share, and in the grey market, its shares are trading at a premium of ₹60.
Cellecor Gadgets IPO GMP (grey market premium) today remains at ₹60, which is a positive sign despite weakness in the secondary market. The GMP has nearly doubled since the opening of the public offer, rising from ₹33 to ₹60 per share. Investors seem to have gained confidence in this IPO, especially with the backing of renowned investor Sunil Singhania. The grey market suggests that investors may expect up to a 65% listing gain from this SME IPO.
As of 11:56 AM on the last day of bidding, the SME issue has been subscribed 24.66 times, with bids received for 13,61,40,000 shares against the offered 5,518,800 shares. The retail portion of the NSE SME IPO has been oversubscribed by 59.53 times.
Cellecor Gadgets IPO received ₹14,46,24,000 from four anchor investors ahead of its subscription opening on September 15. One of these anchor investors, India Ahead Venture Trust, is indirectly backed by Sunil Singhania’s Abakkus Asset Manager, which serves as its investment manager.
The IPO allotment date for Cellecor Gadgets is likely to be on September 25, 2023. The SME issue is proposed for listing on the NSE SME exchange, with the anticipated listing date set for September 28, 2023.
