Cello World, a company recognized for its key brands and historic performance, experienced a mixed response as it made its initial public offering (IPO). Retail, non-institutional investors, and employees subscribed 16%, 24%, and 19%, respectively. This comes despite the backdrop of significant industry competition and concerns over aggressive pricing and full offer for sale (OFS) status.
The company’s goal is to raise ₹1,900 crore through an OFS of shares priced between ₹617-₹648 each. By midday, 13% of the available shares had already been bid. Prior to the IPO, Cello managed to raise ₹567 crore (INR100 crore = approx. USD12 million) from 39 anchor investors.
The IPO is being managed by ICICI Securities, Kotak Mahindra Capital, IIFL Securities, JM Financial and Motilal Oswal Investment Advisors. Link Intime India is serving as the registrar for this IPO. Following the completion of the IPO process, the shares of Cello World will be listed on both BSE and NSE.
