Cellecor Gadgets IPO: Issue booked 11.5 times so far on day 2: check subscription status, latest GMP, other details

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₹50.77 crore worth Cellecor Gadgets IPO will close for bidders on September 20. It is an SME IPO and the shares of Cellecor Gadgets Ltd are proposed to be listed on NSE SME exchange. Cellecor Gadgets IPO was fully subscribed on the first day itself.

As per the information available on NSE website, the Cellecor Gadgets IPO has been subscribed 11.50 times so far as it has received bids for 4.22 crore shares against 36.70 lakh shares on the offer, till 3:35 pm. The retail portion of the SME IPO has been subscribed 19.91 times, while the Non-Institutional Investors (NII) category received 7.16 times subscription. The Qualified Institutional Investors' (QIB) portion was booked 0.05 times so far.

Also Read: Cellecor Gadgets IPO: GMP jumps as NSE SME IPO gets fully subscribed on day one Cellecor Gadgets IPO GMP today, or grey market premium today, is ₹60 per share, according to market observers. This indicates that Cellecor Gadgets shares are trading higher by ₹60 than their issue price, in the grey market. Market observers said that the grey market is trying to signal that Cellecor Gadgets shares may have a strong debut on Dalal Street when it makes a debut in the secondary market.

They said that Cellecor Gadgets IPO GMP today is ₹60 per share, which means the issue is expected to list at ₹152 ( ₹92 + ₹60), which is around 65% higher from Cellecor Gadgets IPO price band of ₹87 to ₹92 per equity share. Cellecor Gadgets IPO opened for subscription September 15 and the bidding for the SME IPO will remain open till September 20. The IPO allotment date is expected to be on September 25, while the company may initiate refunds on September 26 and credit the shares to the demat accounts of eligible allottees on September 27.