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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 client electronics model.
In keeping with the draft purple herring prospectus (DRHP) or the supply doc, the general public situation has a complete dimension of 55,18,800 fairness shares. The complete situation 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: Worth
The worth band for the supply has been mounted at Rs 87-92 per share. The face worth of fairness shares has been set at Rs 10 every, in line with the DRHP.
Whereas 52,42,800 fairness shares will come underneath the web situation 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 buyers.
Cellecor Devices SME IPO: Lot dimension
Underneath the IPO, buyers will be capable of bid for shares in multiples of 1,200, translating to Rs 110,400 per lot.
In keeping with the supply doc, promoters’ shareholding might be decreased to 51.54 per cent after the difficulty.
The IPO allotment might be finalised on September 25 and initiation of refunds might be finished 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 supply is being made pursuant to Regulation 229 of SEBI (ICDR) Rules, the supply doc.
Based mostly out of Delhi, Cellecor Devices is an digital gadget maker. It mentioned that the proceeds can be used for working capital necessities and basic company functions. Cellecor Devices is backed by the Tano Funding Alternatives Fund.
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