Cello World’s shares made a strong debut on the stock exchanges, entering with a premium on Monday. On the NSE, Cello World shares opened at ₹829 per share, reflecting a 27.9% increase from the issue price of ₹648. Similarly, on the BSE, the Cello World share price debuted at ₹831.
The Cello World IPO was open for subscription from Monday, October 30, until Wednesday, November 1.
Regarding the subscription status, the IPO was overwhelmingly oversubscribed, reaching 38.90 times subscription on the final bidding day. Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) showed the strongest interest. At a price band of ₹617-648, the IPO received bids for 85,83,10,665 shares against the offered 2,20,61,947 equity shares, based on stock exchange data.
Specifically, the QIB and NII segments were oversubscribed by 108.57 times and 24.42 times, respectively, while the retail portion was oversubscribed 3.06 times. The employee portion saw a subscription rate of 2.60 times.
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On the second day, the Cell World IPO had a subscription rate of 1.44 times, and on the first day, the issue was subscribed at 38%.
The Cello World IPO involves a complete offer for sale (OFS), with promoters and other shareholders selling shares worth ₹1,900 crore, having a face value of ₹5 each. Additionally, a reservation of up to ₹10 crore is allocated for eligible employee subscription.
The upcoming issue involves the sale of shares by several promoters. Pradeep Ghisulal Rathod will be selling shares worth ₹300 crore, Pankaj Ghisulal Rathod will offload ₹736 crore, Gaurav Pradeep Rathod will sell shares worth ₹464 crore, Sangeeta Pradeep Rathod will offload ₹200 crore, while both Babita Pankaj Rathod and Ruchi Gaurav Rathod will be selling shares worth ₹100 crore each.
The IPO of Cello World Limited is managed by book running lead managers including Kotak Mahindra Capital Company Limited, ICICI Securities Limited, IIFL Securities Ltd, JM Financial Limited, and Motilal Oswal Investment Advisors Limited. The registrar overseeing the issuance is Link Intime India Private Ltd.
Cello was established by the late Ghisulal Dhanraj Rathod, who was previously the promoter and father of two current promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod.
Cello World focuses mainly on three sectors: stationery and writing tools, molded furniture, consumer housewares, and related products.
The grey market premium (GMP) for Cello World’s IPO today is +160. This suggests that Cello World’s shares were trading at a premium of ₹160 in the grey market on Monday, as reported by investorgain.com.
The expected listing price of Cello World’s shares was estimated at ₹808 per share, 24.69% higher than its IPO price of ₹648, considering the upper end of the IPO price band and the current premium in the grey market. The grey market premium shows investors’ willingness to pay more than the issue price.
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