Cello World, a renowned player in the consumer goods industry, is gearing up to launch its much-anticipated initial public offering (IPO) worth Rs. 1,900 crore on October 30, offering a unique investment opportunity for discerning investors.
Closing Date and Shareholder Offer:
Investors should mark November 1 on their calendars as the closing date for this IPO, which consists of an offer for sale by existing shareholders, including the company’s esteemed promoters, the Rathod family. The proceeds from this IPO will directly benefit the Rathod family, providing them with a platform to further enhance Cello World’s growth.
Price Range Announcement and Anchor Book Opening:
The price range for the IPO is set to be unveiled on October 25, creating anticipation in the market. The anchor book, which plays a crucial role in IPO proceedings, will open its doors on October 27, further adding to the excitement surrounding this significant financial event.
Cello World, headquartered in Mumbai, has thoughtfully allocated the issue size in the following manner: 50% for qualified institutional buyers, 15% for high-net-worth individuals, and the remaining 35% for retail investors. The company operates across diverse consumer sectors, spanning houseware, writing instruments and stationery, molded furniture and related products, as well as consumer glassware. With a strong presence in 13 manufacturing facilities spread across five locations, Cello World is actively engaged in establishing a state-of-the-art glassware manufacturing plant in Rajasthan, indicating its commitment to growth and expansion.
Robust Financial Performance:
Cello World’s financial performance has been noteworthy, with significant growth trends in recent years. In FY23, the company witnessed a remarkable 30.5% increase in net profit, reaching Rs. 266.1 crore, while its revenue surged by an impressive 32.2% to Rs. 1,796.7 crore. Although the margin experienced a slight dip of 110 basis points, it remained robust at 23.4%. In Q1 FY24, Cello World continued to demonstrate its financial strength, with a 25.2% growth in net profit, reaching Rs. 77.4 crore, and a 9% rise in revenue, totaling Rs. 471.8 crore.
Share Allotment and Listing Date:
The share allotment process is set to be finalized by November 6, ensuring that eligible investors’ demat accounts are credited with their shares by November 8. Subsequently, Cello World’s stock will be officially listed on the BSE and NSE on November 9, marking a significant milestone for the company and offering investors the opportunity to be part of its future growth story.
Lead Managers and Registrar:
The esteemed merchant bankers overseeing this IPO include Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors. The role of the registrar is capably served by Link Intime India.
The Cello World IPO presents a unique chance for investors to become part of a well-established and promising company with a strong financial track record and ambitious growth plans. It’s an opportunity to invest in a brand that spans diverse consumer sectors and is actively expanding its manufacturing capabilities to meet future demand. Don’t miss the chance to be a part of this exciting journey when the IPO opens on October 30.