Cello World files for ₹1,750 crore IPO
MUMBAI : Mumbai-based pen manufacturer Cello World Ltd has filed a draft red herring prospectus (DRHP) with capital market regulator Sebi to raise funds through an initial public offering (IPO), according to a regulatory filing. The IPO is a complete offer for sale (OFS), where promoters and other shareholders will sell shares of ₹5 face value totalling ₹1,750 crore. The offer includes a reservation of up to ₹10 crore for subscription by eligible employees.
The offer for sale comprises up to ₹300 crore by Pradeep Ghisulal Rathod, up to ₹670 crore by Pankaj Ghisulal Rathod, up to ₹380 crore by Gaurav Pradeep Rathod, up ₹200 crore by Sangeeta Pradeep Rathod, up to ₹100 crore by Babita Pankaj Rathod and up to ₹100 crore by Ruchi Gaurav Rathod. The offer is being made via book building process, and not more than 50% of offer will be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer will be available for allocation to non-institutional bidders and not less than 35% of offer will be available for allocation to retail individual bidders. As of 31 March 2023, the company offered a wide range of 15,841 stock-keeping units ("SKUs") spanning various product categories.
In 2017, it ventured into the glassware and opal ware business under the “Cello" brand. The company has products in three categories—consumer houseware, writing instruments and stationery, and moulded furniture and related products. Kotak Mahindra Capital Co.
Ltd, ICICI Securities Ltd, IIFL Securities Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are book running lead managers and Link Intime India Pvt. Ltd is registrar. The equity shares will be listed on BSE and NSE.
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