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The IPO of Cello World, a company that manufactures home products and stationery, is about to open. The company’s IPO will open for subscription from October 30 and will remain open till November 1. Cello World has raised the total size of its IPO to Rs. 1750 crore to Rs. 1900 crore has been done. The anchor book of the offer will open on October 27. The company’s IPO price band is yet to be announced.
Promoters and other shareholders Rs. 1900 crore shares will be sold
Cello World’s IPO is an outright offer for sale (OFS), with the promoters and other shareholders offering Rs. 5 will sell shares having a face value of Rs. 1900 crore will be. Promoter Pradeep Ghisulal Rathore Company’s IPO Rs. 300 crore shares will be sold. At the same time, Pankaj Ghisulal Rathore paid Rs. 736 crore shares, Gaurav Pradeep Rathore Rs. 464 crore and Sangita Rathore Rs. 200 crore shares will be sold. Apart from this, both Babita Pankaj Rathore and Ruchi Gaurav Rathore will sell shares worth Rs 100 crore.
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The company has 13 manufacturing plants at 5 different locations.
Based in Mumbai, Cello World has a product portfolio in 3 categories of consumer housewares, writing instruments and stationery and molded furniture and related products. The company entered the glassware and opal ware business in the year 2017 under the Selo brand. As per data till March 31, 2023, the company has 13 manufacturing plants in 5 different locations. The company has plants in Daman, Haridwar, Baddi, Chennai and Kolkata. The company is in the process of setting up a glassware manufacturing plant in Rajasthan. The shares of the company will be listed on Bombay Stock Exchange and National Stock Exchange.
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The company’s shares will be listed on November 9
The allotment of shares in the Cello World IPO will be finalized on 6 November 2023. At the same time, the company’s shares may be listed on the exchange on November 9, 2023. Before the IPO, the promoters’ stake in the company was 100%, which will now be 91.8%.