What happens when a cell division occurs?

In simplest terms, cell division is the process by which a parent cell divides into two or more daughter cells. Thus, the simplest answer to the question is two or more daughter cells are produced when cell division takes place.
Depending on the cell type, the division can take place either through meiosis or mitosis. Non-reproductive cells (also called somatic cells) divide through the process of mitosis. In this process, the parent cell divides into two identical daughter cells. And each of these daughter cells has exactly the same number of chromosomes and are exact copies of each other.
In comparison, meiosis is the process by which the reproductive cells divide. In meiosis, the parent cell produces four daughter cells, each of which has exactly half the chromosomes from the parent cell. Each of these daughter cells has different genetic information from each other and the parent cell. Meiosis is the reason for genetic diversity.
Hope this helps.