Cellecor Gadgets Limited Board Approves Issue of Foreign Currency Convertible Bonds
Cellecor Gadgets Limited, formerly known as Unitel Info Limited and Unitel Info Pvt. Ltd., has announced that its Board of Directors has approved the issuance of Foreign Currency Convertible Bonds (FCCBs). The approval relates to an international offering of these bonds, with the total issue size approved not to exceed USD 33MN, equivalent to approximately INR 300 CR.The board approved several key aspects concerning the FCCB offering. These include the overall issue size, the terms and conditions detailed in the final Offering Circular, and the operational timelines for the bonds.
The proposed bonds carry a 2% coupon rate and will be issued as unsecured foreign currency convertible bonds at a 12% discount.
Key Details of the FCCB Issuance
The bonds will be listed on Afrinex Exchange (Mauritius). Investors can access the detailed financial terms and timelines in the following table:| Parameter | Detail |
|---|---|
| Type of Security | Foreign Currency Convertible Bonds (FCCBs) |
| Total Issue Size (Max) | Not exceeding USD 33MN (Approx. INR 300 CR) |
| Issue Structure | Unsecured Foreign Currency Convertible Bonds |
| Coupon Rate | 2% Annually |
| Discount Offered | 12% |
| Issue Price per Bond | USD 88000 |
| Tenure | 60 months |
| Date of Maturity | April 27, 2031 |
Operational Timelines
The company specified key dates governing the life cycle of the bond issue. The opening of the FCCB issue is set for April 22, 2026. Following the bond issue, the bonds will be credited to subscribers on April 27, 2026, subject to the satisfaction of necessary conditions. The 'Relevant Date' for the purpose of the FCCBs remained April 14, 2026.The conversion details provided for the listed securities suggest that the underlying equity shares on conversion would be approximately 10,34,48,276 equity shares of 29/- each, calculated on the basis of the conversion Price.
CELLECOR Stock Price Movement
On Monday, Cellecor Gadgets Limited shares shed 1.28% of their value to settle at ₹30.35, dropping by ₹0.40 for the day. The stock saw 336,000 shares traded, indicating moderate selling pressure throughout the session.Source:
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