Cellecor Gadgets Limited, a leading name in India’s booming electronics and consumer durable goods market, continues to make headlines with its remarkable market performance and recent corporate developments. The company’s shares, which have proven to be multibagger stocks, have shown an impressive growth trajectory since their initial public offering (IPO) in September 2023.
The IPO on the NSE SME platform was launched with a price band of ₹87 to ₹92 per equity share, and the stock was listed at ₹92 apiece. Since then, Cellecor Gadgets’ shares have consistently scaled new highs, currently quoting at ₹295 per share. This represents an extraordinary increase of around 220% over the past nine months.
In recent news, Cellecor Gadgets’ board of directors has approved a proposal for a stock split, a move that has garnered significant attention in the market. The stock split will be executed in a 1:10 ratio, meaning each equity share with a face value of ₹10 will be divided into ten shares with a face value of ₹1 each. The record date for the stock split has been set for August 9, 2024, subject to shareholder and regulatory approvals.
The company communicated this decision to the Indian stock market exchanges, emphasizing that the split is aimed at improving liquidity and making shares more affordable for small investors. By broadening its investor base, Cellecor Gadgets aims to enhance market participation and shareholder value.
Adhering to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the stock split is a testament to Cellecor Gadgets’ commitment to robust governance and transparent decision-making processes. The modification of the capital clause in the company’s memorandum of association now allows for a share capital of ₹22.50 crore, divided into 22,50,00,000 equity shares of ₹1 each.
Since its listing, Cellecor Gadgets’ shares have surged by 230%, with a notable 30% increase in the past month alone. The stock reached a 52-week high of ₹355 on December 28, 2023, and a 52-week low of ₹88.15 on September 28, 2023.
Cellecor Gadgets’ securities are listed under the Scrip Code CELLECOR on the NSE EMERGE platform, catering to small and medium enterprises. The company’s ongoing success in the stock market reflects its strong market position and the growing demand for its diverse range of consumer electronic products.
