The Cello World IPO has witnessed unprecedented success, with the subscription rate soaring 39 times on the final day. Let’s delve into the details of this remarkable feat.
- Allotment Date: November 6, 2023
- Listing Date: November 09, 2023
- Refunds: November 07, 2023
- Credit Shares to Demat: November 08, 2023
- Exchanges: BSE and NSE
Cello World Allotment Status
The basis of the allotment of IPO shares, in consultation with NSE, will be finalized by November 6, and shares will be credited to successful investors’ demat accounts by November 8. Trading of Cello World shares will commence on the bourses from November 9, following the T+6 timeline.
Cello World IPO Subscription
The IPO, which opened on October 30, featured a price band of Rs 617-648 per share. Cello World aims to mobilize Rs 1,900 crore through this maiden public issue, comprising solely of an offer-for-sale (OFS) by the promoters -the Rathod family.
On November 27, Cello World successfully raised Rs 567 crore from anchor investors, which included prominent names like Morgan Stanley, Nomura, Goldman Sachs, and HDFC Mutual Fund, among others.
Cello World earmarked Rs 10 crore worth of shares for its dedicated employees, offering them a discount of Rs 61 each from the final offer price. This gesture highlights the company’s commitment to its workforce.
Demand Surpasses Expectations
On November 1, the final day of subscription, the Cello World IPO received an overwhelming response, garnering bids for a staggering 85.83 crore equity shares. This phenomenal figure represents 38.9 times the initial offering of 2.2 crore equity shares.
Qualified Institutional Buyers (QIBs), with a 50 percent reservation in the offer, played a pivotal role in bolstering the IPO. They demonstrated exceptional confidence by oversubscribing their allotted quota by 108.57 times.
High-Net-Worth Individuals (HNIs), constituting 15 percent of the net offer, displayed significant enthusiasm, subscribing 24.42 times. Retail investors, holding 35 percent of the net issue, submitted bids at a rate of 3.06 times their reserved portion. Meanwhile, employees exhibited confidence by oversubscribing at 2.60 times their allotted quota.
How to Check Allotment Status for Cello World IPO
If you’ve applied for the Cello World IPO, you can quickly check your allotment status on the website of the IPO registrar, Link Intime India Private Ltd. Follow these steps:
- Visit this link.
- Select Cello World IPO from the drop-down menu.
- Choose between Application No, Demat Account, or PAN for checking status.
- Specify the mode you selected in Step 2.
- Fill in the captcha and click submit.
1. Checking Allotment Status on BSE
Follow these steps:
- Visit the official BSE allotment page here.
- Under ‘Issue Type,’ select ‘Equity.’
- Choose the IPO from the drop-down option under ‘Issue Name.’
- Enter PAN or application number.
- Click ‘I am not a Robot’ to confirm your identity, then click the ‘Submit’ button.
2. Checking Allotment Status on NSE
To check the Cello World IPO allotment status on NSE, follow these steps:
- Visit NSE’s official website here.
- Register with PAN by selecting the ‘Click here to sign up’ option on the NSE website.
- Enter the username, password, and captcha code.
- Check the IPO allotment status on the new page that will open.
Grey Market Outlook
The grey market sentiment for Cello World remains optimistic. The company’s presence in various consumer segments, including houseware, writing instruments, stationery, moulded furniture, and glassware, has garnered confidence from investors.
Analysts predict a substantial listing gain for Cello World, with a grey market premium (GMP) currently at Rs 160-165 per share. This implies an approximate 25 percent increase over the issue price of Rs 648 per share.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.