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Cello World has filed draft papers with Securities Exchange Board of India to raise Rs 1750 crore via initial public offerings.
Introduction
Leading household consumer products major Cello World Ltd has filed the draft papers with the Securities and Exchange Board of India (Sebi) to raise Rs 1,750 crore through a public issue. The IPO will be a pure offer-for-sale by various stakeholders.
Offer-for-Sale Details
- Pradeep Ghisulal Rathod plans to sell up to Rs 300 crore worth of shares.
- Pankaj Ghisulal Rathod plans to sell up to Rs 670 crore worth of shares.
- Gaurav Pradeep Rathod plans to sell up to Rs 380 crore worth of shares.
- Sangeeta Pradeep Rathod plans to sell up to Rs 200 crore worth of shares.
- Babita Pankaj Rathod plans to sell up to Rs 100 crore worth of shares.
- Ruchi Gaurav Rathod plans to sell up to Rs 100 crore worth of shares.
Stakeholder Information
- Gaurav Pradeep holds 25.73 percent stake in the company.
- Pankaj Ghisulal holds 16.24 percent stake in the company.
- Pradeep Ghisulal holds 12.86 percent stake in the company.
Company Background
Cello World, a Mumbai-based firm, competes in the household consumer products market and is backed by ICICI Venture. The company offers a wide range of products including drinkware, opalware, kitchen appliances, cleaning aids, bathroom accessories, and sanitizers.
The company started as a small factory in Mumbai in 1967, manufacturing plastic PVC footwear and bangles. It has since expanded its product range and market presence.
Manufacturing Facilities
As of March 2023, Cello World owns, leases, and operates 13 manufacturing facilities across five locations in India. These facilities have an installed annual capacity of:
- 57.77 million units of consumer houseware products
- 15,000 tonnes of opalware and glassware
- 650.00 million units of writing instruments and stationery products
- 12.80 million units of molded furniture and allied products
Financial Performance
For FY23:
- Revenue: Rs 1,796.70 crore
- Net Profit: Rs 285.07 crore
- EBITDA Margin: 24.34%
- Net Debt: Rs 304.49 crore
Lead Managers to the Issue
- Kotak Mahindra Capital
- ICICI Securities
- JM Financials
- Motilal Oswal Securities
- IIFL Securities
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