Cello World IPO: Pen Maker Expands Offering to Rs. 1900 Cr. ; Everything You Need To Know About Share Price, Issue Date, and Other Important Details
The famous pen producer Cello World Ltd. increased the size of its first public offering (IPO) from the original Rs 1,750 crore to Rs 1,900 crore. The Red Herring Prospectus (RHP) states that the IPO’s subscription period would run from October 30 to November 1.
A complete offer for sale (OFS) is included in the IPO, in which the founders and other shareholders would sell shares with a face value of Rs 5 for a total of Rs 1,900 crore. A further allocation of up to Rs 10 crore has been set up for subscriptions from qualified employees.
The following share offerings by the promoters will be covered in the next issue: Sangeeta Pradeep Rathod will contribute Rs 200 crore, Pradeep Ghisulal Rathod Rs 300 crore in shares, Pankaj Ghisulal Rathod Rs 736 crore, Gaurav Pradeep Rathod Rs 464 crore, and Babita Pankaj Rathod and Ruchi Gaurav Rathod Rs 100 crore each.
“No offer funds (“Offer funds”) will be paid to the corporation. According to the equity shares they sold in the Offer for Sale, the respective selling shareholders would receive all Offer Proceeds (net of any Offer-related expenditures to be incurred by the Selling Shareholders), the business said in the RHP.
Book running lead managers are Kotak Mahindra Capital Co. Ltd, ICICI Securities Ltd, IIFL Securities Ltd, JM Financial Ltd, and Motilal Oswal Investment Advisors Ltd. The registrant is Link Intime India Pvt. Ltd.
In the fiscal year 2023, the combined income from operations increased by almost 32% year over year to Rs 1,796.69 crore, while the net profit increased by 29.86% to Rs 285 crore.
