Cello World IPO made a strong debut on the exchange; listed at 28% premium

Mumbai, November 6, 2023 (GNI): Shares of Cello World made a strong debut on the exchange listed at a 28% premium.

The scrip listed Rs 831 per share on BSE and Rs 829 per share on NSE, at a premium of 28.24% and 27.93% respectively. The company’s share price closed at Rs 791.90 per share on the BSE, a 22.21% premium, and at Rs 792.15 per share on the NSE, a 22.25% premium.

As per NSE, the total quantity traded stood at 179.31 lakh shares, on BSE the total Quantity stood at 13.28 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1,553.03 crore. 

Mr. Pradeep Rathod, CMD, Cello World Limited said “On this momentous day, we extend our heartfelt gratitude to our esteemed investors. It is your unwavering support and trust that has been the driving force behind our journey to this remarkable milestone. As we step into this new chapter, your belief in our company fuels our determination to excel and continually create value. With your ongoing support, we are confident to reach even greater heights in the future. We sincerely thank you for placing your trust in us, and here’s to a bright and prosperous future for all.”

The Market Capitalization of the Company at today’s closing price stood at Rs. 16,806.58 Crore as per BSE and Rs. 16,811.88 Crore as per NSE.

The company had offered Rs 1900-crore issue for subscription from October 30 to November 1. This garnered substantial interest, and the offer was subscribed 38.90 times. The qualified Institutional Buyer Portion and Non-Institutional Investors Portion were subscribed 108.57 times and 24.42 times respectively, whereas Retail Portion was subscribed 3.06 times. Employee Portion was subscribed 2.60 times.

Cello World Limited, a leading company in the consumer ware market in India with a presence in the consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories, are amongst the largest brands in the Indian consumer ware market.

Founded by the late Ghisulal Dhanraj Rathod, formerly the promoter and father of two current promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod, had been associated with Cello Plastic Industrial Works and the “Cello” brand since 1962.

As of June 30, 2023, the company offered a wide range of 15,891 stock-keeping units (“SKUs”) spanning its various product categories. In 2017, it ventured into the glassware and opal ware business under the “Cello” brand. The company boasts an extensive product portfolio across three key categories: consumer houseware, writing instruments and stationery, and moulded furniture and related products.

The company’s robust distribution network spans across the nation, for the Consumer Houseware category, it collaborates with 717 distributors and around 58,716 retailers across India. For Writing Instruments and Stationery, it has 29 super-stockists, approximately 1,509 distributors, and roughly 60,826 retailers. For the Moulded Furniture and Allied Products category, it works with 1,067 distributors and around 6,840 retailers.

Kotak Mahindra Capital Company Limited, ICICI Securities Limited, IIFL Securities Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers.enfs GNI