Cello World's Rs.1,900-Cr issue subscribed 39 times


The IPO of household consumer products maker Cello World has received bids for 85.83 crore equity shares which is almost 39 times the IPO size of 2.2 crore shares on offer. Qualified Institutional Buyers (QIBs) bid for 108.57 times the allotted quota, while the part set aside for high networth individuals (HNIs), was subscribed 24.42 times. Retail investors have bid 3.06 times their reserved portion, while employees have bought 2.60 times their quota. The INR 1,900 crore issue comprises only an offer-for-sale (OFS) by the promoters, i.e. Rathod family. Cello World, a prominent player in India's consumer-ware market, had raised INR 567 crore from anchor investors. Morgan Stanley, Nomura, Goldman Sachs, HSBC, Florida Retirement System, Aditya Birla Sun Life Trustee, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, and HDFC Life Insurance Company are some of the investors who participated in the company's anchor book.

From the Venture Intelligence PE-VC Deal Database: In Oct-22, ICICI Venture had invested INR 360 Cr in Cello World. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)

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