Cello World IPO to open today; check important details here

30 Oct 2023 , 09:00 AM

Cello World Ltd, a household products and stationery manufacturer, is planning to launch an initial public offering (IPO) with the following details:

Price Band: The price range for the IPO is set at Rs 617 to Rs 648 per share.

IPO Dates:

• IPO Open Date: October 30, 2023
• IPO Close Date: November 1, 2023

Anchor Book Opening: The anchor book of the offer will be opened for a day on October 27, 2023.

Basis of Allotment: November 6, 2023

Initiation of Refunds: November 7, 2023

Credit of Shares to Demat: November 8, 2023

Listing Date: November 9, 2023

Minimum Bid: Investors can bid for a minimum of 23 shares and in multiples thereof.

Investor Categories and Share Allocation:

• QIB (Qualified Institutional Buyers): Not more than 50% of the Net Issue
• Retail Investors: Not less than 35% of the Net Issue
• NII (Non-Institutional Investors, HNI): Not less than 15% of the Net Issue

IPO Registrar: Link Intime India Private Ltd

Offer Details: The IPO is a complete offer for sale (OFS) by the promoters and other selling shareholders. There is no fresh issue of equity shares. Additionally, there is a reservation of shares worth up to Rs 10 crore for subscription by eligible employees. The IPO size has been increased to Rs 1,900 crore from the initial plan of Rs 1,750 crore. The OFS includes the sale of equity shares by various individuals.

Lead Managers: Kotak Mahindra Capital Company Ltd, ICICI Securities Ltd, IIFL Capital Services Ltd, JM Financial Ltd, and Motilal Oswal Investment Advisors Ltd are the book-running lead managers for the IPO.

Stock Exchanges: The shares are proposed to be listed on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

Cello World Ltd, based in Mumbai, operates in three main product categories: consumer houseware, writing instruments and stationery, and moulded furniture and related products. In 2017, the company expanded into the glassware and opal ware business under the ‘Cello’ brand. The company has 13 manufacturing facilities in five different locations as of March 31, 2023, and is in the process of setting up a glassware manufacturing facility in Rajasthan.

In FY23, Cello World reported a net profit of Rs 285 crore, which marked a 30% increase from the preceding fiscal year when the net profit was Rs 219.52 crore.