Cello World shares settle with over 22 pc premium in debut trade

Shares of household products and stationery manufacturer Cello World Ltd on Monday settled with a premium of over 22 per cent against the issue price of Rs 648.

The stock made its debut at Rs 831, rallying 28.24 per cent from the issue price on the BSE. During the day, it zoomed 28.81 per cent to Rs 834.70. Shares of the company ended at Rs 791.90, climbing 22.20 per cent.

At the NSE, it listed at Rs 829, registering a jump of 27.93 per cent. The stock ended at Rs 792.15, rallying 22.24 per cent.

The company commanded a market valuation of Rs 16,806.58 crore.

In traded volume terms, 13.31 lakh shares of the company were traded at the BSE and over 1.79 crore shares at the NSE during the day.

The Initial Public Offering (IPO) of Cello World was subscribed 38.90 times on the last day of subscription on Wednesday.

The public issue had a price band of Rs 617-648 per share.

Mumbai-based Cello World has a product portfolio across three key categories -- consumer houseware, writing instruments and stationery, and moulded furniture and related products.

In 2017, it ventured into the glassware and opal ware business under the 'Cello' brand.