Chennai: Cello World Limited, a leading company in the consumer ware market in India with a presence in the consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories, is amongst the largest brands in the Indian consumer ware market, has fixed the price band at ₹617 to ₹648 per Equity Share for its maiden initial public offer.  The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, October 30, 2023, for subscription and close on Wednesday, November 01, 2023. Investors can bid for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter.

The Public Issue of face value of ₹5 per Equity Share is entirely an offer for the sale of equity shares up to Rs 1900 crore. The offer also includes a reservation for a subscription by eligible employees and a discount of Rs 61 per equity share is being offered to eligible employees bidding in the employee reservation portion.

Founded by the late Ghisulal Dhanraj Rathod, formerly the promoter and father of two current promoters, Pradeep Ghisulal Rathod and Pankaj Ghisulal Rathod, had been associated with Cello Plastic Industrial Works and the “Cello” brand since 1962.

As of June 30, 2023, the company offered a wide range of 15,891 stock-keeping units (“SKUs”) spanning its various product categories. In 2017, it ventured into the glassware and opal ware business under the “Cello” brand. The company boasts an extensive product portfolio across three key categories: consumer houseware, writing instruments and stationery, and moulded furniture and related products.

The company’s robust distribution network spans across the nation, supported by a sales team consisting of 721 members as of June 30, 2023. For the Consumer Houseware category, it collaborates with 717 distributors and around 58,716 retailers across India. For Writing Instruments and Stationery, it has 29 super-stockists, approximately 1,509 distributors, and roughly 60,826 retailers. In the Moulded Furniture and Allied Products category, it works with 1,067 distributors and around 6,840 retailers located throughout India.

For the fiscal year 2023, the consolidated revenue from operations increased 32.19% to Rs 1796.69 crore against Rs 1359.18 crore a year ago. Net profit increased by 29.86% from Rs 219.52 crore in fiscal 2022 to Rs 285.07 crore in fiscal 2023. It had the highest ROCE amongst its peers in FY 2021 and FY 2023 and the highest EBITDA Margin for fiscal 2021, 2022 and 2023.

For the three months ended June 30, 2023, revenue from operations stood at Rs 471.78 crore and profit after tax at Rs 82.83 crore.

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.


Issue Size of the IPO based on the upper and lower end of the price band:

Offer for Sale (2,93,20,988 equity shares)
Lower Band (@617) Rs 1900 crore
Upper Band (@648) Rs 1900 crore
Rahul Mehra

Rahul has been an integral part of the Hello Entrepreneurs magazine journey since its inception. As a key contributor, he has played a pivotal role in shaping HE into a premier business magazine known for its diverse and compelling content. Rahul's dedication and expertise have been instrumental in curating a wide range of subjects, ensuring that HE remains a go-to resource for entrepreneurs seeking valuable insights and inspiration. His unwavering commitment to excellence has helped establish HE as a trusted platform for thought-provoking articles, interviews, and features, significantly impacting the entrepreneurial community.

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