Cello World IPO Strikes Up 28% premium at ₹829 on NSE

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Cello World shares made a robust stock market debut with a premium of 28% over the issue price of Rs 648. The stock listed at Rs 829 on NSE. This indicates positive investor sentiment.

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The IPO received an enthusiastic response, getting overall subscribed 38.9 times. The portion for non-institutional investors saw 108.57 times subscription showing high interest.

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The retail portion was subscribed 3.06 times even as markets corrected during the IPO period, underlining confidence in the issue.

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The grey market premium of Rs 160 signaled strong listing gains given the upper price band of Rs 648. This pointed to clear upside potential.

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Cello offers a diverse product range including stationery, furniture and consumer goods. Its brand has wide recognition which supported demand.

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Cello World has nationwide presence across states which aided subscription from all categories of investors.

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The company is well-placed to tap rising demand given India's demographics and expanding consumer base. This coupled with reasonable valuations added to the appeal.

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