Cello World share price rose a total of ₹1,900 crores through its initial public offering (IPO), entirely through sales of up to 2.93 crore shares by its promoters and other selling shareholders.
Before listing, Cello World was trading in the gray market at a premium of ₹160 per share, indicating a 25% higher listing price than the issue price.
Cello World Limited started its journey on the stock market with a bang, listing at ₹831 on BSE, a premium of 28% compared to the issue price of ₹648. The stock was listed at ₹829 with a 28% premium on the National Stock Exchange (NSE) compared to the issue price.
Cello World share price rose a total of ₹1,900 crores through its initial public offering (IPO), entirely through sales of up to 2.93 crore shares by its promoters and other selling shareholders. The company sold its shares in the 617–648 rupees between October 30 and November 1 in lots of 23 equity shares.
During the three-day bidding process, the issue was oversubscribed nearly 38.9 times in total. Qualified institutional buyers (QIBs) subscribed 108.57 times the quota kept for them, while non-institutional investors bid 24.42 times the shares reserved for them. Retail investors and employees were allotted, respectively, 3.06 times and 2.60 times their reserved allocation.
Cello World is a well-known pan-Indian consumer products company. It primarily operates in three categories: writing instruments and stationery, moulded furniture, and consumer home goods. Cello World has over six decades of experience in the consumer products industry and has 13 manufacturing units across five different locations in India.
Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors were the book-running lead managers, while Link Intime India was the registrar for the issue.