Cello World is into Consumer-Consumerware and is looking raise funds through Offer for Sale
Cello World IPO is a public offering of shares by Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, Gaurav Pradeep Rathod. The IPO will open on October 30 and will close on November 01. The price band is ₹617 to ₹648 per share and the lot size is 23 shares. The issue size is ₹1,900. crore. The shares are expected to be listed on NSE, BSE on November 09 (^). Some additional information that you may find useful are: Issue size increased by Rs150 cr up to Rs1,900 cr (v/s up to Rs1,750 cr filed in DRHP): (**) - based on higher price band (^) indicative date
READ: Cello World files DRHP with SEBI for the proposed IPO; Key Details here
Promoters of the company are Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, Gaurav Pradeep Rathod Currently promoters hold 91.88% stake in the company.
Quick Pointers
- Company aims to raise NIL through this IPO as issue is OFS (Offer for Sale).
- The net proceeds of the issue will be utilized to 1) achieve the benefits of listing the Equity Shares on the Stock Exchanges and and 2) carry out the Offer for Sale of Equity Shares aggregating up to Rs. 1,900 crores by the selling shareholders.
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 27-Oct-23.
- Price band for the IPO has been fixed at Rs 617 to 648 per share and bid lot are in multiple of 23 shares. The implied market cap post-issue at Rs 13,095 to 13,753 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on November 06 and share are expected to be listed on NSE, BSE on November 09.
- There are no listed companies in India and abroad which are as diversified as Cello World considering varied product ranges. However, there are listed companies in India that offer certain categories of products similar to Cello World's product ranges. Companies includes Borosil Ltd., KokuyoCamlin Ltd., La Opala RG Ltd., Stove Kraft Ltd., TTK Prestige Ltd., Linc Limited and Hawkins Cookers Ltd. amongst others.
- Kotak Mahindra Capital, ICICI Securities, IIFL Securities, JM Financial, Motial Oswal Investment Advisors has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
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IPO Quick Snapshot
About Company
The family of Promoter, Pradeep Ghisulal Rathod, was associated with Cello Plastic Industrial Works and the “Cello” brand since 1962. Company owns diversified product range and brand portfolio over the last six decades. Cello World, established in 2018 is into Indian consumer ware products. It has presence in the consumer houseware, writing instruments and stationery, and moulded furniture & allied products categories, and are amongst the largest brands in the Indian consumerware market.
Issue size increased by Rs150 cr up to Rs1,900 cr (v/s up to Rs1,750 cr filed in DRHP)
About Industry
The Indian consumerware market size increased from ₹305 billion in Fiscal 2020 to ₹348 billion in Fiscal 2022, at a CAGR of 6.9%, and is expected to increase to ₹565 billion in Fiscal 2027, at a CAGR of 10.2%. The Indian stationery market and furniture market have demonstrated consistent growth in market size over the past few years and are expected to continue to grow in the next few years.
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Check Allotment Status of IPO
| Please check below or visit Link Intime (India) Pvt. Ltd. link at here to check allotment status of IPO |
Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
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