Cello World IPO listing date today. GMP, experts predict strong debut of shares

livemint.com:

Cello World IPO: Listing date of the intial public offering of Cello World Limited has been fixed on 6th November 2023 i.e. today. As per the BSE notice, "Trading Members of the Exchange are hereby informed that effective from Monday, November 6, 2023, the equity shares of Cello World Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." The BSE notice went on to add that Cello World share price will list on BSE and NSE in special pre-open session.

Listing is expected around 9:45 AM and Cello World shares will become available for trade from 10:00 AM onwards during Monday deals. According to stock market experts, the ₹1,900 crore IPO received strong response from investors, especially in QIB and NII category. They said that both primary and secondary market sentiments are in positive mode and predicted strong debut of Cello World shares.

They said that Cello World IPO listing gain could be in the range of ₹150 to ₹180 per shares. The public issue was offered at a price band of ₹617 to ₹648 per equity share. Meanwhile, grey market is also indicating strong debut of Cello World shares.

According to market observers, shares of Cello World Limited are available at a premium of ₹160 per equity share in grey market today. Speaking on Cello World IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, "Despite markets being on a weaker note last week, Cello World's offer received an overwhelming response, although retail investors remained cautious as IPO has only an offer for share sale from existing stakeholders. This demand was in line with our estimate due to strong fundamentals in the company and high growth industry dynamics.