October 28th 2023.
Cello World Limited, a leading company in India's consumer ware market, has successfully garnered Rs. 567 crores from anchor investors ahead of its upcoming initial public offering (IPO). The company has allocated 87,49,999 equity shares at Rs. 648 per share on Friday, October 27, 2023, to a wide range of investors, both domestic and foreign.
Notable domestic mutual funds who participated in the anchor include ICICI Prudential, Motilal Oswal, SBI Life Insurance, HDFC Life Insurance, BNP Paribas, Aditya Birla Sun Life, Edelweiss, Reliance General Insurance, Invesco, Kotak Optimus, Bajaj Alliance and others. A total of 24,42,416 equity shares were allocated to 8 domestic mutual funds through a total of 11 schemes amounting to Rs. 158.27 crores, making up 27.91% of the total anchor book size.
Kotak Mahindra Capital Company Limited, ICICI Securities Limited, IIFL Securities Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
The public issue of face value of ₹5 per Equity Share is an offer for sale of equity shares up to Rs 1900 crore and includes a reservation for a subscription by eligible employees. A discount of Rs 61 per equity share is being offered to eligible employees bidding in the employee reservation portion.
The Company's IPO will open for public subscription on Monday, October 30, 2023, and close on Wednesday, November 01, 2023. The price band for the Offer has been determined at Rs 617 – Rs 648 per equity share. 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% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
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