Cello World IPO listing date: Cello World shares were listed on the bourses at a premium on Monday. On NSE, Cello World share price was listed at ₹829 per share, 27.9% higher than the issue price of ₹648, and on the BSE, Cello World share price today was listed at ₹831.
Cello World IPO opened for subscription on Monday, October 30 and closed on Wednesday, November 1.
Cello World Subscription Status
On the last day of bidding, the Cello World IPO was subscribed 38.90 times, with the lead subscription coming from Non Institutional Investors (NIIS) and Qualified Institutional Buyers (QIBs). At a price band of ₹617-648, the issue got bids of 85,83,10,665 shares against the offered 2,20,61,947 equity shares, according to the data available on the stock exchanges.
While the retail portion was subscribed 3.06 times, the QIBs and NIIs section was subscribed 108.57 times and 24.42 times, respectively. Employee portion was subscribed 2.60 times.
Also Read: Cello World IPO listing date today. GMP, experts predict strong debut of shares
On day 2, Cell World IPO was subscribed 1.44 times, and on day 1, the issue was subscribed 38%.
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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.
Also Read: Cello World IPO: What does GMP, subscription status suggest about listing? Check here
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.
Cello was founded by the late Ghisulal Dhanraj Rathod, formerly promoter and father of two current promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod.
Also Read: Cello World IPO allotment: Check latest GMP, subscription status, here’s how to check allotment status
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 +160. This indicates Cello World share price were trading at a premium of ₹160 in the grey market on Monday, according to investorgain.com.
Also Read: Cello World IPO open for subscription: GMP, issue details, price band, risks, 10 key things to know before investing
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 ₹808 apiece, which is 24.69% higher than the IPO price of ₹648.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: Cello World IPO fully booked on day 2, subscribed 1.44 times; NIIs steal the show
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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Updated: 06 Nov 2023, 10:00 AM IST