Cello World IPO Subscribed 38% on Opening Day, Qualified Investors Hold Back

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The Cello World IPO opened for subscription on Monday, October 30 and will close on Wednesday, November 1.

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On day 1 of bidding (Monday, October 30), the issue received bids for 83,01,022 shares against the total issue size of 2,20,61,947 shares. This translates to a subscription of 38% so far.

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The retail investor portion was subscribed 35%, receiving bids for 37,81,246 shares on day 1.

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The non-institutional investor portion saw higher demand at 94% subscription, with bids for 43,27,105 shares.

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Qualified institutional buyers showed low interest on day 1, bidding for just 1,16,840 shares out of the 65,66,045 shares allotted to them. This puts their subscription at 2%.

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The employee reservation portion was subscribed 42% on day 1, receiving bids for 75,831 shares against the 1,79,856 shares reserved.

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Day 2 of the bidding (Tuesday, October 31) will be crucial to see if the overall issue subscription picks up from the current tepid levels before the IPO closes on November 1.

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