Cello World up 28% in debut trading

New Delhi: Shares of household products and stationery manufacturer Cello World Ltd on Monday got listed with a premium of over 28 per cent against the issue price of Rs648. The stock made its debut at Rs831, rallying 28.24 per cent from the issue price on the BSE.

It further zoomed 28.81 per cent to Rs834.70. At the NSE, it listed at Rs829, registering a jump of 27.93 per cent. The company commanded a market valuation of Rs16,769.44 crore during the morning deals. The 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 Rs617-648 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.