© Reuters.
Stationery giant Cello World has opened its initial public offering (IPO) for subscription, following a successful pre-IPO round that raised ₹567 crore from anchor investors. The company, renowned for its robust brand identity and diverse product range, is projected to be a key player in its industries, with analysts predicting a 16% addressable market growth.
The IPO, which will conclude on November 1, has been priced between ₹617-₹648 per share, with a minimum bid of 23 shares per lot. The offer for sale is valued at ₹1,900 crore (INR100 crore = approx. USD12 million). Proceeds from the partial divestment will be entirely beneficial to the promoters and selling shareholders.
Cello World’s debt-free status and potent marketing campaigns such as “Cello – Companion for Life” and “Cello – Rishta Zindagi Bhar Ka” have been highlighted as strong reasons to invest.
The allocations for the IPO are divided between qualified institutional buyers who will receive 50%, non-institutional investors with a 15% allocation, and retail investors who are allocated 35%.
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