The ₹1,900-crore IPO of Cello World that opened on Monday was subscribed 38 per cent or 0.38 times. The IPO, which closes on Wednesday, comes at a price band of ₹617-648. Investors can bid for a minimum of 23 equity shares and in multiples of 23 equity shares thereafter.

Cello World IPO received bids for 83,01,022 shares against the total of 2,20,61,947 shares on offer. 

The public issue of face value of ₹5 a share is entirely an offer for sale of shares up to ₹1,900 crore. The OFS will see promoter Pradeep Ghisulal Rathod, Pankaj Ghisulal Rathod, Gaurav Pradeep Rathod, Sangeeta Pradeep Rathod, Babita Pankaj Rathod and Ruchi Gaurav Rathod paring their shares.

Retail investors’ portion was subscribed 0.38 times, while NII’s portion received bids for 0.94 times and the QIBs portion 0.02 times. The employee portion received bids for 0.42 times. A discount of ₹61 an equity share is being offered to eligible employees bidding in the employee reserve portion.

The Offer is being made through the Book Building Process, wherein not more than 50 per cent of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15 per cent of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35 per cent of the Offer shall be available for allocation to Retail Individual Bidders.

As a part of IPO, the consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories company has garnered ₹567 crore from anchor investors.

The company informed the exchanges that it allocated 87,49,999 shares at ₹648 a share on Friday, to anchor investors who included ICICI Prudential, Motilal Oswal, Goldman Sachs, Nomura, SBI Life Insurance, HDFC life insurance, BNP Paribas, All Spring Global, Morgan Stanley, TATA India Consumer Fund, Quant, CLSA Global, Aditya Birla Sun Life, Edelweiss, Reliance General Insurance, Invesco, Kotak Optimus and Bajaj Alliance.

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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