Cellecor Gadgets has recently announced a strategic partnership with Dixon Technologies (India) Limited, a leading electronic manufacturing services provider. This collaboration aims to enhance Cellecor’s manufacturing capabilities by producing high-quality washing machines, thereby expanding its product line and strengthening its position in the home appliances market. Following the announcement, Cellecor’s shares surged 5%, closing at ₹58 per share, giving the company a market valuation of ₹1,216 crore. Dixon Technologies will utilize its extensive experience and advanced facilities, which are ISO 9001-2015, ISO 14001-2015, and ISO 45001:2018 certified, to ensure that the washing machines meet the highest standards of quality and durability.
In addition, on October 29, 2024, Cellecor’s Board of Directors approved the allotment of 80 lakh equity shares at an issue price of ₹40.20 each to non-promoter public investors. The company also issued 30 lakh fully convertible warrants to the promoter group, granting them the right to subscribe for equity shares at the same price, contingent upon compliance with SEBI regulations.
Earlier, on October 23, Cellecor announced partnerships with prominent retail chains in Gujarat and South India, including Cellbay Mobiles and Sangeetha Mobiles. These alliances are a crucial step in expanding Cellecor’s retail presence and increasing customer access to its diverse range of products, which includes mobile phones, smart TVs, smart gadgets, and home appliances.
This series of developments highlights Cellecor’s commitment to quality, innovation, and the “Make in India” initiative, positioning the company to meet the evolving demands of Indian consumers with competitive and reliable products.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions.
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