Cello World sees bumper debut on bourses; lists over 28% premium; Should you hold or book profit-
时间:2024-06-26 13:25:28 阅读(143)
Cello World’s shares listed at 28% premium over the IPO price on bourses on Monday. The share debuted at Rs 829 on the NSE and Rs 831 on the BSE, as compared to the issue price of Rs 648. The investors have made a profit of Rs 181 per share as the scrip gave 28% returns to investors on the listing. Ahead of the listing, Cello World shares’ grey market premium (GMP) rose 24.69%, surpassing the upper end of the share price on offer, indicating a favorable debut on the bourses.
“Cello World IPO was listed on the stock market today at Rs 829 per share, a premium of 28% over its IPO price of Rs 648. The IPO was subscribed to 41.69 times overall, with the retail portion subscribed 3.21 times, the NII portion subscribed 25.65x, and the QIB portion subscribed 122.20 times. Despite the premium valuation, the IPO received a positive response from investors. This is likely due to the company’s strong brand recognition, diversified product portfolio, and pan-India presence. After such a strong listing, investors may book profit; however, those who have a long-term investment horizon can keep a stop loss at Rs 750, said Shivani Nyati, Head of Wealth, Swastika Investmart.
Cello World IPO opened for public subscription on Monday, October 30, 2023 and closed on Wednesday, November 1, 2023. The public issue was subscribed 41.69 times on the last day of subscription. The Qualified Institutional Buyers (QIBs) category was subscribed 120.20 times, the portion for non-institutional investors received 25.65 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 3.21 times.
The IPO comprised a fresh issue of 29,320,987 equity shares aggregating up to Rs 1,900 crore and an Offer-For-Sale (OFS) with promoters offloading 29,320,987 shares aggregating up to Rs 1,900 crore. The price band for its public issue at Rs 617-648 per equity share of face value Rs 5 each. For potential investors, the bidding started at a minimum of 23 equity shares, with subsequent bids in multiples of 23 equity shares.
下一篇:Zomato share price may rally 21%, says HSBC; grocery business termed ‘poison pill’, check target
猜你喜欢
- Dr Reddy’s Labs, ITC, PNB, Sun Pharma among 119 stocks that hit 52-week highs; 11 touch 52-week lows on 20 July
- Union Budget 2022- Sensex to reclaim 60000, Nifty 18000; Sanjiv Bhasin says ‘buy’ HCL Tech, Axis Bank on Feb 1
- Stocks to watch- Maruti Suzuki India, Adani Enterprises, Hero MotoCorp, Tata Steel
- Stocks to Watch- Adani Green Energy, State Bank of India, HDFC Bank, Power Grid Corporation
- Stocks To Watch- LIC, Biocon, Axis Bank, Suzlon, Eicher Motors, ZEEL, Tata Power, SAIL, Mazagon Dock
- Divgi TorqTransfer Systems IPO- Listing gains; stock debuts at 5% premium over allotment price
- Stocks To Watch- HDFC, HDFC Bank, Wipro, SBI, ITC, Gland Pharma, Titagarh Wagons, LTIMindtree
- UltraTech Cement’s new acquisition boosts bullish outlook, Jefferies recommends Buy with 11% upside target of Rs 9700
- Devotional platform DevDham raises Rs 6 crore seed round from Kunal Bahl’s Titan Capital, others