Homegrown consumer electronics brand Cellecor Gadgets Limited has informed exchanges that its board has approved the revised fundraising proposal to Rs 300 crore from Rs 250 crore. The company also shared details about its effort to strengthen its global footprint. According to the company, the board has approved the incorporation of a new wholly-owned subsidiary in a Dubai Free Zone.
Company Plans Global Expansion
The company said that the name of the wholly owned subsidiary will be Cellecor Gadgets FZCO.
"...to incorporate a new wholly owned subsidiary in a designated Dubai Free Zone, under a name “CELLECOR GADGETS FZCO” in compliance with applicable laws, to enhance operational efficiency and align with long-term business objectives, with necessary authorizations duly granted," the company said in an exchange filing.
Financial Results For FY25
The company reported a 105 per cent YoY revenue growth to RS 1,025.95 crore, up from Rs 500.45 crore in FY24. The company’s net profit surged by 92 per cent to Rs 30.90 crore.
Partners With Zepto
Earlier, the company partnered with Zepto to enable users to purchase Cellecor’s range of products seamlessly through Zepto’s rapid delivery network. Through this partnership, Cellecor aims to enhance accessibility and convenience for its customers, ensuring they can get their favorite gadgets delivered almost instantly.
Partners With Dixon Technologies
Last year, it announced a partnership with Dixon Technologies (India) Limited, a leading electronic manufacturing services (EMS) company in India. This collaboration aims to expand Cellecor's product lineup by manufacturing high-quality washing machines, further strengthening its presence in the home appliances segment.
