Cello World IPO: Unlisted shares of Cello World Ltd were trading at Rs 808 in the grey market, which is about 24.69 per cent higher than its upper issue price of Rs 648 per share
Cello World IPO: The initial public offering (IPO) of household products and stationery manufacturer Cello World has received a whopping 38.90 times subscription on the final day of bidding. The Rs 1,900-crore IPO received bids for 85,83,10,665 shares as against 2,20,61,947 shares on offer.
The category for non-institutional investors was subscribed 24.42 times, while the retail individual investors (RIIs) portion received 4.06 times subscription. The quota for qualified institutional buyers (QIBs) got subscribed 108.57 times.
Cello World IPO’s allotment will take place on November 6, and the listing is likely to take place on November 9.
Read More: Cello World IPO Closes Today: Check Latest GMP, Subscription Status
Cello World IPO GMP Today
According to market observers, unlisted shares of Cello World Ltd remain Rs 160 higher in the grey market as compared to its issue price. The Rs 160 grey market premium or GMP is about 24.69 per cent higher than its upper issue price of Rs 648 per share. This means the grey market is expecting a 24.69 per cent listing gain from the public issue.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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How To Check IPO Allotment Status
1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Cello World Ltd
4. Write the application number
5. Add the PAN card ID
6. Click on ‘I am not a Robot’ and hit submit
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About Cello World IPO
The issue was a complete offer for sale (OFS) by promoters and other selling shareholders, with no fresh issue of equity share component.
Cello World collected Rs 567 crore from anchor investors ahead of the IPO. The company raised the size of its IPO size to Rs 1,900 crore from Rs 1,750 planned earlier. The IPO price was fixed at Rs 617-Rs 648 per share.
The offer included a reservation of shares worth up to Rs 10 crore for subscription by eligible employees.
The OFS comprised the sale of equity shares by Pankaj Ghisulal Rathod, Gaurav Pradeep Rathod, Pradeep Ghisulal Rathod, Sangeeta Pradeep Rathod, Babita Pankaj Rathod and Ruchi Gaurav Rathod.
The Mumbai-based Cello World has a product portfolio across three key categories — consumer houseware, writing instruments and stationery, and moulded furniture and related products.
Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial and Motilal Oswal Investment Advisors are the managers to the offer. The shares are proposed to be listed on BSE and NSE.
