Cello IPO Success: Rathod’s 44% interest in the company was valued at $1 billion following the company’s public offering, making him a new entrant into India’s billionaire league.
- SUMMARY
- Rathod has almost 40 years of experience in the production and trade of plastic and thermoware items, as well as raw materials.
- Cello World was valued at Rs 16,806.58 crore in the market.
- The IPO was extremely popular, with subscribers subscribing 38.90 times on the closing day at a price range of Rs 617-648 per share.
Cello World, a firm that specializes in cookware and other household products, is led by Pradeep Rathod. His 44% interest in the company was valued at $1 billion following the company’s public offering, making him a new entrant into India’s billionaire league.
Also Read: Diwali 2023: Top Nifty Stock Picks For Samvat 2080 Include RIL, HDFC Bank, And L&T
It was valued at Rs 16,806.58 crore in the market, thanks to strong trading activity – 13.31 lakh shares on the BSE and almost 1.79 million shares on the NSE. The Initial Public Offering (IPO) saw exceptional demand, with subscribers subscribing 38.90 times on the last day, with a price band of Rs 617-648 per share.
Because of India’s growing middle class, the consumerware market grew at a compound annual growth rate of 6.9%. This increase can be attributed to Indians renovating their kitchens with contemporary appliances. It operates in this thriving industry alongside well-known names such as Borosil, TTK, Milton, and La Opala.
While cookware accounts for about two-thirds of total revenue, It also sells pens, stationery, and moulded furniture, which accounts for 18% of total revenue. The company intends to profit from rising home demand for plastic furniture.
Rathod has almost 40 years of experience in the production and trade of plastic and thermoware items, as well as raw materials. He has been influential in establishing the trajectory of Cello World since its inception as a Director.
Rathod’s son, Gaurav, and younger brother, Pankaj, share the responsibility of managing director in the company. The Rathods are key promoters of Wim Plast Ltd, a BSE-listed firm known for creating plastic furniture under the Cello name.
Aside from business, Rathod volunteers as a trustee for the Badamia Charitable Trust, which is dedicated to social and humanitarian endeavors. He also serves as president of the JITO Administrative Training Foundation.
Frequently asked questions
Is Cello an Indian company?
Cello Industries Private Limited is a non-profit organization in India. It is a private firm that is categorized as a “company limited by shares.” The authorized capital of the company is Rs 1.0 lakhs, while the paid-up capital is Rs 1.0 lakhs.
Who owns the cello?
Cello quickly became India’s most popular writing instrument brand throughout the years by focusing on innovation, high-quality pens, and cutting-edge technologies. BIC®, the French stationary giant, acquired 100 percent control of Cello® writing in December 2015, and the company was renamed “BIC Cello (India)”.
Who owns cello India?
Pradeep Ghisulal Rathod is the Chairman and Managing Director of the company.
Pradeep Ghisulal Rathod has almost 40 years of experience in the manufacturing and trading of plastic goods, thermoware articles, and raw materials, among other things. He has been on our Board of Directors since its inception.
How old is cello brand?
Cello is a moniker that has been popular in Indian households for over 50 years. The company was founded in 1967 with the goal of becoming India’s most popular household brand by providing innovative and visually outstanding items at reasonable pricing.
Click here, to check out the latest post on Instagram.
Also Read: Honasa Consumer Shares: 100% Profit Potential! Mamaearth Is A Strong Conviction ‘Buy’ At Jefferies, And The Stock Has Recovered
image source: google
