Multibagger SME stock declares 1:10 stock split after 220% rally in nine months
Stock split 2024: Cellecor Gadgets shares are one of the multibagger stocks the Indian stock market has delivered in recent years. The NSE SME IPO was launched in September 2023 at ₹87 to ₹92 per equity share. The SME stock had a par listing on the NSE SME Emerge at ₹92 apiece.
However, the SME stock witnessed strong buying post-listing and scaled new highs regularly. Cellecor Gadgets share price is currently quoting at ₹295 apiece, recording around 220 percent in these nearly nine months. The SME stock is in the news once again as the company's board of directors has approved the proposal for a stock split.
The company board approved the stock split in a 1:10 ratio, setting a record date on 9th August 2024.Cellecor Gadgets informed Indian stock market exchanges about the stock split approval, saying, “We wish to inform you that the Board of Directors of the Company at its meeting held today, i.e. Wednesday, 26th June 2024, at the Registered office of the Company situated at Unit No. 703, 7th Floor, Jaksons Crown Heights, Plot No.
3BI Twin District Centre, Sector 10 Rohini, Rithala, North West Delhi, Delhi-110085, inter-alia, considered and approved Sub-division/split of company's 1 (one) Equity Share having face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re.1/- each, subject to the approval of shareholders and such other approvals as may be required."Cellecor Gadgets has set the stock split record date in accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Adherence to regulatory standards instils confidence in the company's governance and decision-making processes.Disclaimer: The views and recommendations above are
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