BackCello World IPO: GMP, subscription status, review, other details. Apply or not?
Cello World IPO GMP today: Shares of the company are available at a premium of ₹90 in grey market today, say market observers
PremiumCello World IPO: The initial public offering (IPO) has opened today and it will remain open for biddders till 1st November 2023. The book build issue has been offered at a price band of ₹617 to ₹648 per equity share. The public issue is proposed for listing on both NSE and BSE. The issue is entirely OFS (offer for sale). Promoters of the company aims to raise ₹1,900 crore from this public offer. Meanwhile, Cello World shares have strated tradiing in unlisted stock market. According to market observers, shares of Cello World Ltd are available at a premium of ₹90 in grey market today.
Cello World IPO subscription status
On day one of bidding, the public issue has been subscribed 38% whereas its retail portion has been subscribed 35%. Its NII portion got subscribed 94% in this time.
Important Cello World IPO details
Here we list out important Cello World IPO details:
1] Cello World IPO GMP today: Shares of the company are available at a premium of ₹90 in grey market today, say market observers.
2] Cello World IPO price: The company has offered this book build issue at a price band of ₹617 to ₹648 per equity share.
3] Cello World IPO subscription date: The issue has opened today and it will remain open till 1st November 2023.
4] Cello World IPO size: The company aims to raise ₹1,900 crore from this book build issue. Earlier, the company had filed DRHP for ₹1,750 crore IPO.
5] 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.
6] Investment limit: As one lot of the issue comprises 23 company shares, a bidder will require minimum ₹14,904 ( ₹648 x 23) to apply for this book build issue.
7] Cello World IPO allotment date: In the wake of T+3 listing schedule, Cello World IPO allotment date can be either on 2nd Nivember 2023 or on 3rd November 2023.
8] Cello World IPO listing: The public issue is proposed for listing on BSE and NSE.
9] Cello World IPO listing date: In the wake of T+3 listing schedule, Cello World IPO listing is most likely on 6th November 2023.
10] Cello World IPO review: Giving 'subscribe' tag to Cello World IPO, BP Equities said, "The issue is valued at a P/E of 44.4x on the upper price band based on FY23 earnings, which is fairly valued compared to the average industry P/E of 45.5x. We, therefore, recommend a “SUBSCRIBE" for the benefit of listing gains for the issue."
Reliance Securities has also given 'subscribe' tag to the public issue citing, "CWL has demonstrated its manufacturing and production capabilities with continuous innovation of products in various categories across age groups, categories of consumer house ware growing the wallet share and consumer base over the years. CWL has scaled up the branding attracting new customers, increasing market share in its respective product categories moving up the value chain for every segment. CWL has developed a strong brand identity through effective brand advertisements and marketing campaigns, including “Cello – Companion for Life’’, “Cello – Rishta Zindagi Bhar Ka’’, “Hot Chahiye Toh Cello" and “Don’t Just Write, Glide". We believe CWL would be a prominent player in its respective business verticals with a large addressable market growth of average 16%, strong financials, debt free company offers a growth play in the long term. Therefore we recommend a SUBSCRIBE to the issue."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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