Multibagger from its 52-week low; Board approved raising funds of up to Rs 10,20,00,000 on a private placement basis through non-convertible debentures!

The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 88.15 per share.

Cellecor Gadgets Ltd (Formerly Known as Unitel Info Limited and Unitel Info Private Limited) informed that the Board of Directors of the company in its meeting held on Thursday, January 18, 2024 at its Registered Office have inter alia, considered, approved and taken on record the issuance of Unlisted, Secured, Redeemable, Partly Paid, Non-Convertible Debentures (NCDs) under Private Placement basis up to Rs. 10,20,00,000. The company will issue 1,020 NCD of 1,00,0000 each. This security matures 13 months after allotment, paying a fixed 16 per cent annual coupon payable monthly.

Earlier, Cellecor Gadgets Ltd., the Indian tech giant known for its budget-friendly devices, stepped into the premium arena with a brand-new line of meticulously crafted products designed for tech enthusiasts, style lovers, and fitness buffs. Arriving early next year, the collection boasts revolutionary Smart TVs with stunning 8K resolution, statement-making smartwatches that blend elegance with cutting-edge features, premium earbuds promising exceptional sound quality and seamless integration, and sleek smartphones echoing Cellecor's dedication to seamless experiences.

This bold move capitalizes on India's booming tech scene fuelled by AI, IoT, 5G, and personalized experiences, catering to a market hungry for premium smart TVs, smartwatches, smartphones, and wireless earbuds.

Today, shares of Cellecor Gadgets Limited plunged 3.71 per cent to Rs 288.10 per share from its previous closing of Rs 299.20 with an intraday high of Rs 314.40 and an intraday low of Rs 286. The stock falls under the SME segment with a lot of 1,200 shares. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 88.15 per share.

Incorporated in 2020, Cellecor Gadgets Limited is engaged in the procurement, branding, and distribution of televisions, mobile phones, smart wearables, mobile accessories, smart watches, and neckbands.

The company IPO was launched just a few weeks ago and falls under the SME segment with a lot size of 1,200 shares. As of September 2023, the promoters of the company own a 51.54 per cent stake, FIIs own 4.41 per cent, DIIs own 6.05 per cent and the rest 38 per cent is owned by the public.

Disclaimer: The article is for informational purposes only and not investment advice.