Cello World IPO opens for subscription; here is everything you need to know about the issue

Cello World IPO: The IPO will remain open for subscription from 10 a.m. today to 5 p.m. on Wednesday, November 1.

Representative image. Source: Pexels

Cello World IPO: The initial public offering (IPO) of Cello World, a household products and stationery manufacturer, has opened for subscription.

The IPO will remain open from 10 a.m. today to 5 p.m. on Wednesday, November 1.

Here are some of the key details about the Cello World IPO

Cello World IPO: Price band

The price band of the issue is set in the range of Rs 617 to Rs 648, wherein Rs 617 is the lower band and Rs 648 per share is the upper band.

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The issue is a complete offer for sale (OFS) of Rs 1,900 crore by promoters and other selling shareholders, with no fresh issue of equity shares.

Cello World IPO: Lot size

A bidder will be able to apply in lots and one lot of the public issue comprises 23 company shares.

Cello World IPO: Listing date

The tentative date for the stock listing on the BSE and NSE is Thursday, November 9, 2023.

Cello World IPO: Allotment date

The shares will likely be allotted to eligible investors on Monday, November 6, 2023.

Subscribers can check the allotment status on the website of Registrar Link Intime India Private Ltd. Here's the direct link.

https://linkintime.co.in/mipo/ipoallotment.html

Cello World IPO: Fund utilisation

The proceeds will be received by the selling shareholders in proportion to the equity shares offered by them in the OFS.

Anil Singhvi's view on Cello World IPO

Zee Business Managing Editor Anil Singhvi has recommended applying for small listing gains and staying invested for the long term.

According to him, Cello is a strong brand with experienced promoters.

Further, it has a strong growth outlook and financial track record.

Positives also include no litigation against the company or promoters.

Conversely, while listing the negatives, the market expert said that it has competition from unorganised players.

As regards valuations, Singhvi said they are reasonable.

About Cello World

Cello World is a famous Indian consumer product company, mainly dealing in three categories such as writing instruments and stationery, moulded furniture, consumer housewares, and related products.

The company has more than 60 years of experience in the field of consumer products, which enables them to better understand consumer preferences and choices.

Cello World has 13 manufacturing units situated in five different locations in India. The company also aims to set up a glass manufacturing unit in Rajasthan with European-made machinery to enable efficient productivity and enhanced manufacturing capacity.

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