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Cello World Limited gets Sebi nod for its Rs 1750 crore IPO

Posted On: 2023-10-20 13:23:11 (Time Zone: IST)


Mumbai-based Cello World Ltd, a leading company in the consumerware market in India with presence in the consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories, and are amongst the largest brands in the Indian consumerware market has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

The company had filed preliminary IPO papers with Sebi on August 14, 2023.

The IPO with a face value of Rs 5 is a complete offer for sale (OFS) of up to Rs 1750 crore Promoter and other selling shareholders. The offer includes a reservation of up to Rs 10 crore for subscription by eligible employees.

The offer for sale comprises of up to Rs 300 crore by Pradeep Ghisulal Rathod, up to Rs 670 crore by Pankaj Ghisulal Rathod, up to Rs 380 crore by Gaurav Pradeep Rathod, up to Rs 200 crore by Sangeeta Pradeep Rathod, up to Rs 100 crore by Babita Pankaj Rathod and up to Rs 100 crore by Ruchi Gaurav Rathod.

Founded by late Ghisulal Dhanraj Rathod, formerly the promoter and father of two current promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod, had been associated with Cello Plastic Industrial Works and the "Cello" brand since 1962.

As of March 31, 2023, the company offered a wide range of 15,841 stock-keeping units ("SKUs") spanning its various product categories. In 2017, it ventured into the glassware and opalware business under the "Cello" brand. The company boasts an extensive product portfolio across three key categories: consumer houseware, writing instruments and stationery, and moulded furniture and related products.

For the fiscal year 2023, the consolidated revenue from operations increased 32.19% to Rs 1796.69 crore against Rs 1359.18 crore a year ago. Net profit increased by 29.86% from Rs 219.52 crore in fiscal 2022 to Rs 285.07 crore in fiscal 2023. It had the highest ROCE amongst the peers in FY 2021 and FY 2023 and highest EBITDA Margin for fiscal 2021, 2022 and 2023.

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.


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