Cellecor Gadgets to raise Rs 10.20 crore via NCDs

Indian electronic manufacturer Cellecor Gadgets has announced that its board of directors has given approval to raise Rs 10.20 crore by issuing 1020 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs).

“The board has approved and recorded the issuance of Unlisted, Secured, Redeemable, Partly Paid, Non-Convertible Debentures (NCDs) through Private Placement, with a value of up to Rs. 10,20,00,000 (Rupees Ten Crores and Twenty Lakhs only),” stated the company in a filing with the exchange.

The duration of the debentures, from the date of allotment to the date of maturity, is as follows: Date of Allotment – Deemed to be held on 18.01.2024.

Date of Maturity – 13 Months from the date of allotment.

Interest Offer

A fixed coupon of 16 per cent (Sixteen Point Zero per cent) per annum, payable monthly.

In the meantime, electronics device company Cellecor Gadgets, known for its proprietary brand, has launched the M Series smartwatches.

These smartwatches feature a retina AMOLED display, a health suite, a wellness companion, and more. The price range for these smartwatches is between Rs 1,200 to Rs 3,500.

The company has also introduced a variety of products, including a 50-inch Smart TV, ZPDQC 24W Charger, headphones, feature phones, and more.