Cello World IPO Subscribed 1.44 Times On Day Two

Cello World launched its initial public offering on Oct. 30. The IPO issue will close on Nov. 1.

The consumer houseware's IPO comprises a offer for sales of 29,320,987 shares, amounting to up to Rs 1,900 crore. The company does not have any fresh issue. The IPO was subscribed 38% on day 1.

Cello World Ltd. has raised Rs 567 crore from anchor investors ahead of its initial public offering next week.

The consumer housewares company allotted 87.5 lakh shares at Rs 648 apiece to 39 anchor investors.

The marquee investors include ICICI Prudential Life Insurance Co., SBI Life Insurance Co., HDFC Mutual Fund, Aditya Birla Sun Life Insurance Co., BNP Paribas Arbitrage, Morgan Stanley, Nomura, Motilal Oswal, Edelweiss and Goldman Sachs, among others.

Eight domestic mutual funds have applied through a total of 11 schemes, the company said in an exchange filing. They have collectively netted 27.9% of the anchor portion of Rs 158 crore.

ICICI Prudential, Aditya Birla Sun Life, and Motilal Oswal have secured an allocation of 5.26% each.

• Issue Opens: Oct. 30

• Issue Closes: Nov. 1

• OFS Size: Rs 1,900 crore

• Total Issue Size: Rs 1,900 crore

• Price Band: Rs 617-648 per share

• Lot Size: 23 Shares

• Face Value: Rs 5 per share

• Listing: BSE and NSE

Cello World primarily deals in three categories: stationery and writing instruments, molded furniture, consumer housewares, and associated goods.

Company own/lease and operate 13 manufacturing facilities across five locations in India, as of June 30, and is currently establishing a glassware manufacturing facility in Rajasthan. Company's manufacturing capabilities allow it to manufacture a diverse range of products in-house

Product Categories

• Consumer Houseware

• Writing Instruments and Stationery

• Moulded Furniture and Allied Products

The IPO has been subscribed 1.44 times as of 5 p.m. on Tuesday.

• Institutional investors: 0.05 times or 5%

• Non-institutional investors: 4.35 times

• Retail investors: 1.04 times

• Employee Reserved: 1.25 times