Cello World Shares List At 28% Premium Over IPO Price On Market Debut

Shares of Cello World Ltd. debuted at Rs 831 apiece on the Bombay stock Exchange, a premium of 28.24% over their IPO price of Rs 648 apiece.

On the BSE, the stock debuted at Rs 829 apiece, a 27.93% premium.

The Rs 1,900-crore IPO was subscribed 38.90 times on its final day, led by institutional investors (108.57 times), non-institutional investors (24.42 times), retail investors (3.06 times), and a portion reserved for employees (2.60 times).

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.

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