Cellecor Gadgets IPO: The initial public offering (IPO) of Cellecor Gadgets is currently open for subscription. An investor can bid for its shares in the primary market till September 20, which is the last day of the bidding process.

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Based out of New Delhi, Cellecor Gadgets is a consumer electronics brand. The company is offering its equity shares in the price range of Rs 87-92 apiece. The issue comprises the sale of 55.18 lakh fresh equity shares.

In an interview with ZEE Business, Ravi Agarwal, founder and CEO, said that Cellecor manufactures electronic products including mobile phones, mobile accessories, smart gadgets, wearables, home appliances and more. 

"We started from a small shop in Delhi's Ghaffar Market. We launched the brand (Cellecor) five years ago. We worked with channel partners to establish the brand and launched it in every state gradually. We have distributors and retail centres in every state," he said while speaking about the company's history.

"When the brand was launched five years ago, the business was valued at Rs 19 crore. Today, the value has jumped to Rs 300 crore. The company has more than 800 distributors, over 25,000 retail networks and 1,200 established service centres. Out products assembling and manufacturing is done across India," he said.

To a question related to anchor investors, he said, "The aim is to raise Rs 51 crore through the public issue. We have raised around Rs 15 crore from anchor investors and funds including Madhu Kela and Sunil Singhania. The balance of Rs 35 crore will be raised from the public."

"Starting this month, we have started exporting our products. We are exporting products to South Africa and UAE," he added.

Ravi said that the funds will be utilised to strengthen the company's working capital and expand its operations. Besides, proceeds will also be used to expand the digital presence. 

An investor can bid for 1,200 equity shares in one lot which will cost Rs 1,10,400. While the basis of the allotment will likely be finalised on September 25, Cellecor Gadgets shares will be listed on the National Stock Exchange's SME platform on September 28.