Last day to subscribe Cello World IPO; check details inside

1 Nov 2023 , 11:52 AM

Cello World, an Indian manufacturer specializing in plastic products, is set to conclude its Rs 1,900-crore Initial Public Offering (IPO) today. The offering has received significant attention from non-institutional investors, marking a 1.44 times overall subscription by day 2. Click here to subscribe the IPO.

By 11:45 AM on the final day, bids for 7,91,09,788 equity shares out of 2,20,61,947 shares available have been received. Notably, the non-institutional investor (NII) portion saw an 8.58 times subscription, while the Qualified Institutional Buyer (QIB) portion received 3.43 times subscription. The retail portion, as of that time, was subscribed 1.57 times.

The IPO, following a Book Building Process, allocated 50% of shares to QIBs, 15% to NIIs, and the remaining 35% to Retail Individual Bidders. Prior to the IPO, Cello secured Rs 567 crore from anchor investors.

Established in 2018, Cello World holds a prominent position in India’s consumer-ware market. The company operates across various segments, including consumer houseware, writing instruments and stationery, moulded furniture and allied products, and consumer glassware.