Shares of Cello World will be listed on the bourses at an issue price of ₹648. The company came out with an IPO for ₹1,900 crore that saw a strong response from all category of investors, especially QIBs, as the offer was subscribed 38.90 times.
Meanwhile, the grey market indicates a strong premium of ₹160 a share.
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The IPO, which came out with a price band of ₹617-648, received bids for 85.96 crore shares against the total of 2.21 crore shares on offer.
Qualified institutional buyers’ portion was subscribed by a whopping 108.6 times while the quota reserved for retail investors and non-institutions received bids for 3.06 times and 24.42 times. The employee portion received bids for 2.60 times. A discount of ₹61 an equity share is being offered to eligible employees.
The entire issue was an offer-for-sale. As a part of IPO, the consumer houseware, writing instruments and stationery and moulded furniture/allied products company, has garnered ₹567 crore from anchor investors.