{"id":80169,"date":"2023-11-03T06:51:30","date_gmt":"2023-11-03T10:51:30","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/cello-world-ipo-oversubscribed-by-38-9-times-listing-scheduled-for-november-9\/"},"modified":"2023-11-03T06:51:33","modified_gmt":"2023-11-03T10:51:33","slug":"cello-world-ipo-oversubscribed-by-38-9-times-listing-scheduled-for-november-9","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80169","title":{"rendered":"Cello World IPO oversubscribed by 38.9 times, listing scheduled for November 9"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Cello World Limited, a pan-India consumer product company, recently wrapped up its initial public offering (IPO) process, which was oversubscribed 38.9 times. The IPO was managed by ICICI Securities, Kotak Mahindra Capital, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors. Despite the offer-for-sale (OFS) nature of the issue and absence of patents on the trademark, the initiative drew strong interest from institutional and non-institutional investors alike.<\/p>\n

The shares were sold at Rs 617-648 each, raising a total of Rs 1,900 crore. The success of the IPO propelled Cello World’s Grey Market Premium (GMP) to Rs 160 apiece. Brokerage firms have been positive about the company due to its strong brand recall and pan-India presence.<\/p>\n

Qualified institutional buyers contributed significantly to the oversubscription, subscribing 108.57 times their quota. The shares, having a face value of Rs 5 each, are expected to have their allotment finalized on or before Monday, November 6 according to the Red Herring Prospectus filed with the Securities and Exchange Board of India (SEBI).<\/p>\n

Investors can check their allotment status on the Bombay Stock Exchange (BSE) website or through Link Intime, the IPO’s registrar. Following this process, Cello World’s shares are scheduled to be listed on national bourses on November 9.<\/p>\n

Cello World Limited is known for dealing in writing instruments, molded furniture, and consumer housewares, establishing a robust presence across India.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Cello World Limited, a pan-India consumer product company, recently wrapped up its initial public offering (IPO) process, which was oversubscribed 38.9 times. The IPO was managed by ICICI Securities, Kotak Mahindra Capital, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors. Despite the offer-for-sale (OFS) nature of the issue and absence of patents […]<\/p>\n","protected":false},"author":1,"featured_media":657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-80169","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCello World IPO oversubscribed by 38.9 times, listing scheduled for November 9 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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