Synopsys:
Cellecor Gadgets Ltd promoters sold Rs 35.35 crore worth of shares and fully reinvested the amount, showing strong trust and support for the company’s long-term growth.
The shares of this electronics manufacturer and distributor offering TVs, smartphones, wearables, audio devices, and many others jumped upto 3 percent in the day’s trade after the promoters sold their stake in the company.
With a market capitalization of Rs. 785 Crores, shares of Cellecor Gadgets Ltd opened at 36.05 per equity share, from its previous day’s closing price of Rs. 36.00. Cellecor Gadgets Ltd announced that its promoters have sold 88.95 lakh shares in the open market, generating approximately Rs 35.35 crore. What makes this announcement significant is that the entire amount raised has been reinvested into the company.
How the Money Will Be Spent
From the total amount raised, Rs. 9.05 crore was allocated to convert 30 lakh warrants into equity shares at a price of Rs. 40.20 each. The remaining Rs. 26.30 crore was provided as interest free, unsecured long term loans.
This thoughtful reinvestment shows the promoter’s strong trust in the company’s growth and is intended to support working capital and expansion needs without adding any debt pressure.
Following this reinvestment, the promoters now hold a 46.3 percent stake in the company and have even pledged personal assets to support its financial needs. This shows their deep commitment and belief in Cellecor’s long term success.
ABOUT THE COMPANY
Cellecor Gadgets Ltd is an Indian electronics brand offering a wide range of affordable products like TVs, smartphones, wearables, audio devices, and home appliances through both online and offline channels. With over 2,000 service centers, 1,800 distributors, and 65,000 retail outlets across India.
The company has already surpassed Rs.1,000 crore in sales within just two years of listing and is now aiming to reach Rs 5,000 crore, targeting 50 percent annual growth over the next 3 to 4 years. With a focused approach toward innovation, operational scaling, and financial discipline, Cellecor is setting the stage for sustainable and accelerated growth.
Written by Sudeep Kumbar
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
