This IPO is classified as an offer-for-sale (OFS) and includes a total of 2.93 crore shares, with no proceeds directed to the company itself. Notably, prominent stakeholders such as Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, Gaurav Pradeep Rathod, and others are actively participating in this offer-for-sale.
Here are some key details and the Grey Market Premium (GMP) for the IPO:
Investors looking to take part in this IPO have the opportunity to acquire shares within a price range of Rs 617-648 per equity share, with a lot size of 23 shares and multiples thereafter.
In terms of allocation, Cello World has designated 50 percent of the net offer to qualified institutional bidders, with 15 percent set aside for non-institutional investors. The remaining 35 percent is specifically reserved for retail investors.
As of the current date, the Grey Market Premium (GMP) for Cello World stands at Rs 121.
Prior to the IPO launch, Cello World successfully allotted 87,49,999 shares to 39 anchor investors at a price of Rs 648 each, accumulating a substantial Rs 567 crore.
The final allocation of shares for the IPO will be determined on November 6, with the company's debut on Dalal Street scheduled for November 9, 2023.
Operational and Financial Performance:
Cello World operates 13 manufacturing units strategically located across five different regions in India. Additionally, the company has ambitious plans to establish a state-of-the-art glass manufacturing facility in Rajasthan, equipped with European-made machinery to enhance productivity and manufacturing capacity.
As of March 31, 2023, the company boasts a comprehensive portfolio of 15,841 stock-keeping units (SKUs) and maintains a robust sales distribution team.
In terms of financial performance, Cello World reported a net profit of Rs 82.83 crore and generated revenue amounting to Rs 479.88 crore for the period ending on June 30, 2023. Furthermore, for the fiscal year concluding on March 31, 2023, the company posted a net profit of Rs 285.06 crore, with revenue totaling Rs 1,813.44 crore.
Brokerage Perspectives:
Several notable brokerage firms have shared their views on the Cello World IPO. Reliance Securities has issued a 'subscribe' rating to the IPO, expressing confidence in Cello World's strong brand identity and growth potential, considering it a promising long-term investment.
Choice Broking has also endorsed Cello World's IPO with a 'subscribe' rating, citing the company's dominant market position and growth prospects. However, the brokerage has cautioned investors about potential overvaluation, advising a cautious approach.
StoxBox has given a 'subscribe' rating to the IPO, emphasizing Cello World's distribution advantage and superior return on capital employed (ROCE) compared to its peers. The brokerage believes investors may potentially benefit from listing gains.
Investors looking to take part in this IPO have the opportunity to acquire shares within a price range of Rs 617-648 per equity share, with a lot size of 23 shares and multiples thereafter.
In terms of allocation, Cello World has designated 50 percent of the net offer to qualified institutional bidders, with 15 percent set aside for non-institutional investors. The remaining 35 percent is specifically reserved for retail investors.
As of the current date, the Grey Market Premium (GMP) for Cello World stands at Rs 121.
Prior to the IPO launch, Cello World successfully allotted 87,49,999 shares to 39 anchor investors at a price of Rs 648 each, accumulating a substantial Rs 567 crore.
The final allocation of shares for the IPO will be determined on November 6, with the company's debut on Dalal Street scheduled for November 9, 2023.
Operational and Financial Performance:
Cello World operates 13 manufacturing units strategically located across five different regions in India. Additionally, the company has ambitious plans to establish a state-of-the-art glass manufacturing facility in Rajasthan, equipped with European-made machinery to enhance productivity and manufacturing capacity.
As of March 31, 2023, the company boasts a comprehensive portfolio of 15,841 stock-keeping units (SKUs) and maintains a robust sales distribution team.
In terms of financial performance, Cello World reported a net profit of Rs 82.83 crore and generated revenue amounting to Rs 479.88 crore for the period ending on June 30, 2023. Furthermore, for the fiscal year concluding on March 31, 2023, the company posted a net profit of Rs 285.06 crore, with revenue totaling Rs 1,813.44 crore.
Brokerage Perspectives:
Several notable brokerage firms have shared their views on the Cello World IPO. Reliance Securities has issued a 'subscribe' rating to the IPO, expressing confidence in Cello World's strong brand identity and growth potential, considering it a promising long-term investment.
Choice Broking has also endorsed Cello World's IPO with a 'subscribe' rating, citing the company's dominant market position and growth prospects. However, the brokerage has cautioned investors about potential overvaluation, advising a cautious approach.
StoxBox has given a 'subscribe' rating to the IPO, emphasizing Cello World's distribution advantage and superior return on capital employed (ROCE) compared to its peers. The brokerage believes investors may potentially benefit from listing gains.
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