Cello World IPO: What does GMP, subscription status suggest about listing?

Cello World IPO: The initial public offering (IPO) of Cello World Ltd saw strong demand from investors. Cello World is a consumer product company that deals in three categories of products such as writing instruments and stationery, molded furniture, consumer housewares and related products. 

Cello World IPO opened for public subscription on October 30 and closed on November 1. The company finalised the IPO share allotment on November 3.

The equity shares of Cello World will be listed on BSE and NSE on Monday, November 6, 2023.

“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,” said a BSE notice.

Also Read: Cello World IPO allotment finalised; check latest GMP, here’s how to check allotment status

As the Cello World IPO listing date has been fixed, let us take a look at what the latest GMP, subscription status suggest:

Cello World IPO GMP Today:

Cello World IPO GMP today, or grey market premium today, is 160 per share. This indicates Cello World share price was trading at a premium of 160 in the grey market, as per market observers.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Cello World shares is 808 apiece, which is 24.69% higher than the IPO price of 648.

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Cello World IPO Subscription Status

Cello World IPO has been subscribed 38.90 times during the bidding process. The public issue received bids for over 85.83 crore equity shares as against 2.20 crore shares on the offer, as per data available on the NSE.

The IPO was subscribed 3.06 times in the retail category, 108.57 times in the Qualified Institutional Buyers’ (QIB) category, and 24.42 times in the Non-Institutional Investors’ (NII) category.

Also Read: Mamaearth IPO: Here’s what latest GMP, subscription status suggest about share listing

Cello World IPO Details

Cello World IPO opened on October 30 and ended on November 1. Cello World raised 1,900 crore from the public issue which was entirely an offer for sale (OFS) of 2.93 crore equity shares.

Cello World IPO price band was set at 617 to 648 per share and the minimum lot size for an application was 23 equity shares. 

The company had reserved up to 170,357 shares for employees and offered them a discount of 61 to the issue price.

Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial and Motilal Oswal Investment Advisors are the book running lead managers of the Cello World IPO, while Link Intime India Private Ltd is the IPO registrar.

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Updated: 04 Nov 2023, 12:34 PM IST

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