Multibagger SME stock Cellecor Gadgets rises 150% in six months post-listing. Do you own?
Multibagger stock: Cellecor Gadgets share price listed on the NSE SME Emerge platform at the end of September 2023. The SME stock had a flat listing as it listed on NSE at ₹92 apiece, against the NSE SME IPO's price band of ₹87 to ₹92 per equity share. Cellecor Gadgets IPO was launched in mid-September 2023 to generate ₹50.77 crore from this book build issue.
The book build issue received a strong response from the primary market investors as it was subscribed over 116 times in four days of bidding from 15th September 2023 to 20th September 2023. The SME IPO was booked over 124 times in the retail category whereas its NII segment was booked over 176 times. However, despite strong subscription status, the SME stock had a par listing at ₹92 per share.
The story didn't end here. After listing at ₹92 per share, the SME stock witnessed sharp selling pressure post-listing and made an intraday low of around ₹88 apiece on the NSE. However, the stock witnessed bottom fishing at the intraday low and managed to close above the listing price.
Cellecor Gadgets share price ended at ₹96.60 per share on its listing date. After a positive end on the listing date, Cellecor Gadgets share price continued its uptrend onwards and went on to touch its lifetime high of ₹355 apiece, logging a nearly 300 percent rise against the listing price of ₹92 per share. However, the multibagger SME stock witnessed profit-booking and it retraced from the record high levels.
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