Cello World shares has listed at 28 percent premium after a successful Initial Public Offering (IPO) which saw 38.9 times more subscriptions compared to the issue size. The stock debuted on the NSE at a price of Rs. 829 and on the BSE at Rs. 831 while the issue price was at Rs. 648.

The Cello World issue received strong responses from institutional buyers (QIBs), who bought 108.57 times the allotted quota; high net worth individuals (HNIs), who bought 24.42 times; and retail investors, who bought 3.06 times. This resulted in a total of 38.9 times more subscriptions.

Despite the high valuation of the shares, the issue witnessed high demand due to the company”s strong financials, debt-free status, and anchor investors such as Nomura, Morgan Stanley, and Goldman Sachs.

The issue was entirely offer for sale by promoters who offloaded their stakes in the company to raise Rs.1900 crores.

Cello World is a Mumbai based company with strong presence consumer houseware, writing instruments and stationery, molded furniture and allied products and consumer glassware categories.

The company currently holds 15,891 stock-keeping units (SKUs) across its product categories and had 14 manufacturing facilities across five locations, with a new glassware manufacturing facility in Rajasthan.

In Financial Year 2023, the company posted a net profit of Rs. 266.1 crore and a revenue of Rs. 1796.7 crore, representing increases of 30.5% and 32.2%, respectively.