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Cello World, a consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories company, has garnered ₹567 crore from anchor investors. The IPO, which opens for the public on Monday and closes on Wednesday, has a price band of ₹617-648.
On Friday, the company allocated 87,49,999 shares at ₹648 a share to anchor investors, including ICICI Prudential, Motilal Oswal, Goldman Sachs, Nomura, SBI Life Insurance, HDFC life insurance, BNP Paribas, All Spring Global, Morgan Stanley, TATA India Consumer Fund, Quant, CLSA Global, Aditya Birla Sun Life, Edelweiss, Reliance General Insurance, Invesco, Kotak Optimus and Bajaj Alliance.
100% offer-for-sale
The public issue of a face value of ₹5 a share is entirely an offer-for-sale of shares up to ₹1,900 crore. The OFS will see promoter Pradeep Ghisulal Rathod paring shares worth ₹300 crore, ₹736 crore by Pankaj Ghisulal Rathod, ₹464 crore by Gaurav Pradeep Rathod, ₹200 crore by Sangeeta Pradeep Rathod, and ₹100 crore by both Babita Pankaj Rathod and Ruchi Gaurav Rathod.
Investors can bid for a minimum of 23 equity shares and in multiples of 23 equity shares thereafter.
The offer is being made through the book-building process, wherein not more than 50 per cent of the offer will be available for allocation to qualified institutional buyers, not less than 15 per cent will be available for allocation to non-institutional bidders, and not less than 35 per cent will be available for allocation to retail individual bidders.
Kotak Mahindra Capital Company Ltd, ICICI Securities Ltd, IIFL Securities Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are the book-running lead managers and Link Intime India Pvt Ltd is the registrar to the offer. The equity shares are proposed to be listed on the BSE and NSE.
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