Cello World IPO opens on October 30, price band set at ₹617-648 per share
Cello World IPO opens on Oct 30 and closes on Nov 1. Cello World IPO price band set at ₹617-648 per share Cello World IPO reserved 50% for QIBs, 15% for NIIs, and 35% for Retail Investors.
Cello World IPO opens for subscription on Monday, October 30, and closes on Wednesday, November 1. The allocation to anchor investors for Cello World IPO is scheduled to take place on Friday, October 27. Cello World IPO price band has been fixed in the range of ₹617 to ₹648 per equity share of face value of ₹5.
The floor price is 123.40 times the face value of the equity shares and the cap price is 129.60 times the face value of the equity shares. The price/earnings ratio based on diluted EPS for fiscal 2023 at the floor price is 46.85 times and the cap price is 49.20 times. Cello World IPO lot size is 23 equity shares and in multiples of 23 equity shares thereafter.
Cello World IPO reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. A discount of ₹61 per equity share is being offered to eligible employees bidding in the employee reserve portion.
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Cello World IPO details
Cello World IPO is a complete offer for sale (OFS), where promoters and other shareholders will sell shares of ₹5 face value totalling ₹1,900 crore. The offer includes a reservation of up to ₹10 crore for subscription by eligible employees.
The issue will see promoter Pradeep Ghisulal Rathod offload ₹300 crore worth of shares, ₹736 crore by Pankaj Ghisulal Rathod, ₹464 crore by Gaurav Pradeep Rathod, ₹200 crore by Sangeeta Pradeep Rathod, ₹100 crore by both Babita Pankaj Rathod and Ruchi Gaurav Rathod.
The book running lead managers of 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 company's comparable listed peer are Borosil Ltd (with P/E of 50.59), Kokuyo Camlin Ltd (with P/E of 57.97), La Opala RG Ltd (with P/E of 40.81), Stove Kraft Ltd (with P/E of 51.49), TTK Prestige Ltd (with P/E of 43.78), Linc Ltd (with P/E of 33.39), and Hawkins Cookers Ltd (with P/E of 40.23).
For FY23, consolidated revenue from operations rose about 32% on year to ₹1,796.69 crore, while net profit increased 29.86% to ₹285 crore.
Cello was founded by the late Ghisulal Dhanraj Rathod, formerly promoter and father of two current promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod.
Cello World primarily deals in three categories: stationery and writing instruments, moulded furniture, consumer housewares, and associated goods.
Cello World IPO GMP today
Cello World IPO GMP today or grey market premium is +95. This indicates Cello World share price were trading at a premium of ₹95 in the grey market on Wednesday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Cello World share price was indicated at ₹743 apiece, which is 14.66% higher than the IPO price of ₹648.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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