Cello World made a big entrance into the stock market on a Monday, and the atmosphere was buzzing with excitement! When they began trading on the NSE (National Stock Exchange), one share of Cello World was selling for ₹829. That’s almost 28% more than the original price of ₹648. The BSE (Bombay Stock Exchange) had a similar tale to tell, with Cello World shares opening at ₹831. It was as if investors enthusiastically welcomed the company, believing it was worth more than its initial price.
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On the final day of bidding for Cello World’s initial public offering (IPO), there was an incredible level of interest from investors. People and institutions who don’t typically invest in the stock market (Non Institutional Investors) and professional financial institutions (Qualified Institutional Buyers) led the way.
The IPO was priced between ₹617 and ₹648 per share. Surprisingly, the number of shares that investors wanted to buy was almost 39 times greater than the number of shares Cello World was offering. In specific numbers, investors bid for a staggering 85,83,10,665 shares, while Cello World had only 2,20,61,947 shares available for sale. This means there was a tremendous demand for Cello World’s shares, and it was a very successful IPO for the company.
The part of the stock offering meant for regular people was in high demand, with people applying for it about 3 times more than the available shares.
On the other hand, the section for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) saw even greater demand, with QIBs subscribing for shares about 108.57 times more than what was available, and NIIs subscribing about 24.42 times more. Even the employees of the company showed strong interest, with their portion being subscribed about 2.60 times over.
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The Cello World IPO is like a big sale of company shares. The people who own the company and other investors are going to sell shares with a face value of ₹5 for a total of ₹1,900 crore. They’re also setting aside ₹10 crore worth of shares for their employees to buy if they want. So, it’s a way for the company owners and investors to sell their shares, and employees can get a chance to buy some too.
In simple terms, here’s what’s happening: A company’s promoter, Pradeep Ghisulal Rathod, is going to sell shares worth 300 crore rupees. Another person named Pankaj Ghisulal Rathod will sell shares worth 736 crore rupees, while Gaurav Pradeep Rathod plans to sell shares worth 464 crore rupees.
Sangeeta Pradeep Rathod will offload shares worth 200 crore rupees. Additionally, both Babita Pankaj Rathod and Ruchi Gaurav Rathod will each sell shares worth 100 crore rupees. So, several people connected to the company are selling their shares.
