Cello World IPO: A High-Stakes Journey into the Grey Market Premium and Beyond

The Cello World IPO has officially opened for bids and will continue to accept bids until November 1, 2023. This book-build issue offers shares in a price range of ₹617 to ₹648 per equity share. Notably, the IPO is solely an Offer for Sale (OFS), with the aim of raising ₹1,900 crore as envisioned by the company’s promoters. Additionally, Cello World shares have commenced trading in the unlisted stock market and are currently trading at a premium of ₹90 in the grey market, according to market observers.

Cello World IPO Subscription Status

By 01:51 PM on the first day of bidding, the IPO received an overall subscription rate of 0.17 times, with the retail portion being subscribed at 0.08 times and the NII (Non-Institutional Investors) portion at 0.33 times. These numbers provide an early glimpse into the demand for Cello World’s public offering.

Key Cello World IPO Details

Here are the essential details you need to know about the Cello World IPO:

1. Cello World IPO Grey Market Premium (GMP): Market observers report that the company’s shares are currently trading at a premium of ₹90 in the grey market.
2. Cello World IPO Price Band: The IPO is offered in a price range of ₹617 to ₹648 per equity share.
3. Cello World IPO Subscription Period: The IPO opened for subscription on its launch day and will remain open until November 1, 2023.
4. Cello World IPO Fundraising: Cello World aims to raise ₹1,900 crore from this book-build issue, an increase from its initial DRHP (Draft Red Herring Prospectus) filing of ₹1,750 crore.
5. Cello World IPO Lot Size: Bidders can apply for this IPO in lots, with one lot comprising 23 company shares. To apply for this book-build issue, a minimum investment of ₹14,904 (23 shares at ₹648 each) is required.
6. Cello World IPO Allotment Date: In accordance with the T+3 listing schedule, the Cello World IPO allotment date is expected to be either on November 2, 2023, or November 3, 2023.
7. Cello World IPO Listing: The public issue is proposed for listing on both BSE and NSE, increasing accessibility to potential investors.
8. Cello World IPO Listing Date: Following the T+3 listing schedule, Cello World IPO is most likely to be listed on November 6, 2023.

Disclaimer: The opinions and recommendations mentioned above belong to individual analysts or brokerage firms and are not associated with Refersms. It is advisable for investors to consult certified experts before making any investment decisions.