Cell Point IPO Witnesses Strong Subscription on Day 1, GMP Rises to ₹16 & Gets a Subscribe Recommendation From Analyst Avinash Gorakshakar of ProfitMart on CNBC Awaaz

Cell Point India's initial public offering (IPO) got off to an impressive start as it garnered a subscription of 1.06 times on the first day of bidding. The IPO received strong interest from both non-institutional investors, with a subscription of 1.29 times, and retail investors, with a subscription of 0.82 times. This indicates a positive response from the market, reflecting investor confidence in the company.

In addition, the grey market premium (GMP) for Cell Point IPO surged to ₹16, marking a ₹2 increase compared to the previous day. The rising GMP indicates robust demand for the IPO and suggests the potential for significant listing gains.

Renowned SEBI Registered Analyst, Mr. Avinash Gorakshakar, from Profit Mart Brokerage house, provided his expert opinion on CNBC Awaaz Live TV show today. Mr. Gorakshakar rated Cell Point IPO as a "Subscribe for Long-term and Listing Gain" opportunity, emphasizing the growth prospects and potential returns for investors.

Cell Point India, a leading smartphone and electronics retail company, has garnered attention for its strong financial performance, strategic partnerships, and wide range of products. With the IPO gaining traction, investors are eagerly anticipating the listing day, expecting favorable market reception and the possibility of attractive returns.

Investors are advised to conduct thorough research and seek guidance from financial advisors before making investment decisions. The Cell Point IPO presents an opportunity for long-term investors looking to capitalize on the company's growth potential and the positive market sentiment surrounding the offering.