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Tano Capital-backed preliminary public providing (IPO) of Cellecor Devices will open for subscription on September 15 with a fundraising plan to the tune of Rs 50.77 crore. Cellecor Devices is a shopper electronics model.
In line with the draft purple herring prospectus (DRHP) or the provide doc, the general public subject has a complete dimension of 55,18,800 fairness shares. The whole subject includes solely recent points and no offer-for-sale part. The bidding course of for the IPO will proceed from 10 am to five pm for 3 buying and selling days, until September 20.
Cellecor Devices SME IPO: Value
The value band for the provide has been mounted at Rs 87-92 per share. The face worth of fairness shares has been set at Rs 10 every, based on the DRHP.
Whereas 52,42,800 fairness shares will come below the online subject part, the remaining 2.76 lakh fairness shares are reserved for market makers. Half of the portion has been reserved for certified institutional patrons (QIBs) and 15 per cent for top net-worth people (HNIs). The remaining 35 per cent is reserved for retail traders.
Cellecor Devices SME IPO: Lot dimension
Underneath the IPO, traders will be capable of bid for shares in multiples of 1,200, translating to Rs 110,400 per lot.
In line with the provide doc, promoters’ shareholding might be decreased to 51.54 per cent after the problem.
The IPO allotment might be finalised on September 25 and initiation of refunds might be accomplished on September 26. Shares might be credited into demat accounts a day previous to itemizing. Cellecor Devices shares is prone to be listed on the NSE SME platform on September 13.
The provide is being made pursuant to Regulation 229 of SEBI (ICDR) Laws, the provide doc.
Based mostly out of Delhi, Cellecor Devices is an digital gadget maker. It mentioned that the proceeds could be used for working capital necessities and common company functions. Cellecor Devices is backed by the Tano Funding Alternatives Fund.
