Cello World, a leading manufacturer in the consumer houseware, stationery, and moulded furniture sectors, has announced its Rs 1,900-crore Initial Public Offering (IPO) is set to open on October 30. The announcement comes following a successful fiscal year for the company, which saw a revenue increase of 32.2% to Rs 1,796.7 crore in FY23 and a net profit rise of 30.5% to Rs 266.1 crore.
The IPO proceeds will go to the Rathod family, the current owners of Cello World. The price band for the IPO will be revealed after the Dussehra holiday on October 25. The issue is divided among institutional buyers (50%), high-networth individuals (15%), and retail investors (35%).
Cello World offers 15,891 SKUs from its 13 factories located across five different locations. The company is currently establishing a new facility in Rajasthan. With in-house manufacturing accounting for 80% of its revenue, Cello World has demonstrated strong growth despite an EBITDA margin drop of 110 basis points to 23.4%.
The basis of share allotment will be finalized by November 6, with shares credited to investors' demat accounts by November 8. The stocks are scheduled to debut on BSE and NSE on November 9.
Cello World's IPO is the fourth this October, highlighting a robust period for public listings in the country's financial markets.
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