Shares of Cellecor Gadget rose as much as 5 per cent during the early trading session on Wednesday after the company announced launch of its trend-setting premium brand, to improve lifestyle with new age gadgets. The company informed about the same through an exchange filing on Wednesday.
The affordable electronics brands player announced its plan to launch a new premium brand, which promises a seamless blend of craftsmanship, cutting-edge designs, and user experience integration, reflecting Cellecor’s commitment to provide quality products that seamlessly integrate into users’ lives, said the company in its announcement.
Cellecor Gadgets’ premier product line, which is set to be launched early next financial year, shall be curated to meet the diverse preferences and needs of distinct consumers. The company is likely to enter segments like smart TVs, smartwatches, earbuds and Smartphones as it sees a strong potential in these segments.
Following the announcement of launch, shares of Cellecor Gadgets gained about 5 per cent to Rs 314 on Wednesday, commanding a total market capitalization of more than Rs 650 crore. The stock had settled at 299.05 in the previous trading session on Tuesday.
In another exchange filing with the National Stock Exchange (NSE), the board of Cellecor Gadget considered and approved redemption of non-convertible debentures (NCDs) has made the full payment against the 350 debentures with a face value of Rs 1 lakh to the debenture-holders.
Shares of Cellecor Gadgets were listed at the SME platform of NSE in September 2023 as the SME player raised Rs 50.77 crore via IPO route by selling its shares for Rs 92 apiece. The stock has surged about 240 per cent from its issue price so far.
Cellucor Gadgets, Incorporated in 2020, is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands. It has three business verticals- entertainment and communication, peripherals and modern accessories.
Cellucor Gadgets has more than 1200 service centers, and more than 800 distributors associated with it. Its products are also present at over 24,000 retail stores with more than 300 ranges of products and 100 million users across the country through offline and online channels.
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