Household products and stationery maker Cello World Ltd. has filed for an initial public offering with India's capital markets regulator.
The Mumbai-based company's founders and shareholders seek to raise Rs 1,750 crore or $211 million via an offer-for-sale, according to its draft red herring prospectus filed with SEBI. No fresh equity will be issued during the initial public offering.
Kotak Mahindra Capital Co., ICICI Securities Ltd., IIFL Securities Ltd., JM Financial Ltd. and Motilal Oswal Investment Advisors Ltd. are managing
the issue.
The promoters of the company Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod and Gaurav Pradeep Rathod plan to offer shares worth Rs 1,350 crore in the IPO. Other shareholders including, Sangeeta Pradeep Rathod, Babita Pankaj Rathod and Ruchi Gaurav Rathod will be selling shares worth Rs 400 crore.
The company also owns 54.9% stake in Wim Plast Ltd., which competes with Milton, Borosil, Princeware, Stovekraft, Kokuyo Camlin, Flair
Writing, among others.
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