Price Band At ₹617 To ₹648 Apiece
Cello’s product range spans across consumer houseware, writing instruments and stationery, and moulded furniture
MUMBAI, Oct 25 (The CONNECT) – Consumer ware major Cello World Limited has fixed the price band at ₹617 to ₹648 per equity share for its initial public offering (IPO) which will be open from the next Monday to Wednesday.
Investors can bid for a minimum of 23 equity shares and in multiples of 23, thereafter.
The Public Issue of face value of ₹5 per Equity Share is entirely an offer for sale of equity shares up to Rs 1900 crore. The offer also includes a reservation for a subscription by eligible employees and a discount of Rs 61 per equity share is being offered to eligible employees bidding in the employee reservation portion.
As of June 30, 2023, the company offered a wide range of 15,891 stock-keeping units spanning its various product categories. In 2017, it ventured into the glassware and opal ware 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 1,796.69 crore against Rs 1,359.18 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.
For the three months ended June 30, 2023, revenue from operations stood at Rs 471.78 crore and profit after tax at Rs 82.83 crore.
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.