Cello World IPO GMP Today:
The Cello World IPO GMP today, standing at an impressive ₹160 per share, is the talk of the town. In essence, it signifies that Cello World’s share price is basking in a premium of ₹160 in the grey market, according to market observers. This premium speaks volumes about the demand for Cello World shares.
Estimating the Listing Price:
Taking into account the upper end of the IPO price band and the current grey market premium, we can make an educated guess about the listing price of Cello World shares. It’s estimated to be ₹808 per share, a notable 24.69% higher than the IPO price of ₹648.
Cello World IPO Subscription Status:
The subscription status of the Cello World IPO reveals a remarkable journey. During the bidding process, it was oversubscribed by a staggering 38.90 times. To put this into perspective, the public issue garnered bids for over 85.83 crore equity shares, while only 2.20 crore shares were on the offer. These numbers showcase the overwhelming interest in Cello World’s IPO.
- Retail Category: Subscribed 3.06 times
- Qualified Institutional Buyers’ (QIB) Category: Subscribed 108.57 times
- Non-Institutional Investors’ (NII) Category: Subscribed 24.42 times
The numbers tell a compelling story of investor confidence in Cello World.
Exploring Cello World IPO:
Let’s delve deeper into the intricacies of the Cello World IPO:
Timeline: The IPO journey began on October 30 and concluded on November 1, drawing substantial attention from investors. Cello World successfully raised ₹1,900 crore from the public issue, which was structured as an offer for sale (OFS) of 2.93 crore equity shares.
Price Band: The IPO’s price band was set at ₹617 to ₹648 per share, offering potential investors flexibility. The minimum lot size for an application was 23 equity shares, making it accessible to a wide range of investors.
Employee Benefits: Cello World also had a provision for its dedicated employees, reserving up to 170,357 shares and offering them a discount of ₹61 to the issue price, demonstrating the company’s commitment to its workforce.
Key Players: The orchestration of the Cello World IPO involved prominent names in the financial industry. Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial, and Motilal Oswal Investment Advisors were the book running lead managers, while Link Intime India Private Ltd assumed the role of the IPO registrar.
Cello World IPO – Unveiling the Company
Cello World Ltd is a significant player in the consumer product sector, operating in three key categories: writing instruments and stationery, molded furniture, consumer housewares, and related products. The company’s IPO was open for public subscription from October 30 to November 1, with the IPO share allotment finalizing on November 3.
The highly anticipated day for investors, when Cello World’s equity shares make their debut on the BSE and NSE, is Monday, November 6, 2023.
As the curtain rises on the Cello World IPO, it’s evident that investors are eager to embrace the opportunities it offers. With a strong subscription status and an estimated listing price that reflects confidence, Cello World is poised to make a significant mark in the world of IPOs. Stay tuned for more updates as this financial journey unfolds.
