Cellecor Gadgets IPO: GMP jumps as NSE SME IPO gets fully subscribed on day one
Cellecor Gadgets IPO: The initial public offering (IPO) of Cellecor Gadgets limited opened on Friday and it will remain open for bidders till 20th September 2023. The book build issue is proposed for listing on NSE SME exchange and the public offer has received strong response from investors on day one of bidding. The public offer has been fully subscribed on day one of bidding as the initial offer received bids for 71,32,800 shares against 55,18,800 shares offered by the company.
Meanwhile, grey market has gone bullish on Cellecor Gadgets IPO. According to market observers, shares of Cellecor Gadgets Limited are available at a premium of ₹45 in grey market today. Market observers said that Cellecor Gadgets IPO gtrey marklet premium (GMP) today is ₹45, which is ₹5 higher from its Friday GMP of ₹40.
They said that rise in Cellecor Gadgets IPO GMP can be attributed to bull trend on Dalal Street and strong response given by investors to the book build issue. They said that grey market mood main remain bullish as Nifty has sustained above 20,100 levels and it has been hitting life-time high for the last two straight sessions. On what this Cellecor Gadgets IPO GMP mean, market observers said that grey market is trying to signal that Cellecor Gadgets shares may have a strong debut on Dalal Street when it makes a debut in secondary market.
They said that Cellecor Gadgets IPO GMP today is ₹45, which means the issue is expected to list at ₹137 ( ₹92 + ₹45), which is around 49 per cent higher from Cellecor Gadgets IPO price band of ₹87 to ₹92 per equity share. After day one of bidding, the public issue has been fully subscribed. As per the information available on NSE website, the NSE SME IPO has been subscribed 1.29 times as it
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