Cello World shares have made a remarkable entry into the stock market, debuting with an impressive 28% premium on the National Stock Exchange (NSE). The stock’s opening price stood at ₹829 per share, significantly surpassing the issue price of ₹648. This successful debut has garnered substantial attention from investors and market enthusiasts. In this article, we will delve into the details of Cello World’s IPO journey, subscription status, key facts, and the market’s response.
Cello World IPO Listing Date and Premium
Cello World, a renowned name in the consumer goods industry, listed its shares on the stock exchanges with much anticipation. On the NSE, the share price was listed at ₹829, a substantial 27.9% premium compared to the issue price. Meanwhile, on the Bombay Stock Exchange (BSE), Cello World’s share price stood at ₹831. This remarkable premium on the listing date has raised optimism and interest among investors.
Cello World IPO Subscription Status
The Cello World IPO witnessed tremendous demand during its subscription period. On the final day of bidding, the IPO was oversubscribed by a staggering 38.90 times. Notably, the major contributors to this overwhelming response were Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs). With a price band of ₹617-648, the issue received bids for 85,83,10,665 shares, surpassing the offered 2,20,61,947 equity shares, as reported by stock exchanges.
In terms of subscription, the retail segment stood at 3.06 times, highlighting strong retail investor interest. On the other hand, the QIBs and NIIs sections were subscribed 108.57 times and 24.42 times, respectively. Even the employee portion saw healthy subscription at 2.60 times.
Cello World IPO Overview
Cello World’s IPO is a complete offer for sale (OFS), wherein promoters and other shareholders collectively sold shares with a face value of ₹5, amounting to ₹1,900 crore. The offering also includes a reservation of up to ₹10 crore for eligible employees. The key contributors to this offering include Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, Gaurav Pradeep Rathod, Sangeeta Pradeep Rathod, Babita Pankaj Rathod, and Ruchi Gaurav Rathod, who collectively offloaded shares worth crores.
The book running lead managers overseeing the Cello World Limited IPO are Kotak Mahindra Capital Company Limited, ICICI Securities Limited, IIFL Securities Ltd, JM Financial Limited, and Motilal Oswal Investment Advisors Limited. The registrar of the issuance is Link Intime India Private Ltd.
The Legacy of Cello
Cello, founded by the late Ghisulal Dhanraj Rathod, is a company with a rich legacy and a wide-ranging product portfolio. The brand primarily deals in three categories: stationery and writing instruments, moulded furniture, consumer housewares, and associated goods. With a history rooted in quality and innovation, Cello has become a household name synonymous with trust and reliability.
Cello World IPO Grey Market Premium
The grey market premium (GMP) for Cello World’s IPO stands at an impressive +160. This implies that Cello World’s shares were trading at a premium of ₹160 in the grey market on the debut day. This positive trend in the grey market further cements the market’s confidence in the company’s potential.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Cello World’s shares is projected at ₹808 apiece. This represents a substantial increase of 24.69% over the IPO price of ₹648, making it an attractive proposition for investors.
In conclusion, Cello World’s IPO listing has set the stage for a promising future. With an impressive debut premium, strong subscription figures, and a rich legacy, Cello World is poised for growth and success in the market. Investors and enthusiasts will be closely watching the company’s journey in the coming days.