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Cello World Board Approves Issuing Up to 86.5L Shares Via QIP

May 31, 2024

By: BlinkX Research Team

Cello World on Wednesday received approval from its board to raise funds by issuing up to 86.5 lakh shares of face value of Rs 5 each through the qualified institutional placement (QIP) or other permissible mode.

Key Takeaways from Cello World Fundraising:

• Cello World got approval from the board to raise funds by issuing up to 86.5 lakh shares.
• The shares will have a face value of Rs 5 each and the issue will be through QIP.

The company reported its fourth-quarter performance where the FY24 revenue grew 11% on-year to 2,000 crore rupees led by 12% on-year growth in consumer ware, 12% on-year growth in writing instruments and 3% on-year growth in moulded furniture.

About Cello World Limited:

Cello World Limited, is a prominent player in the consumerware market in India with a presence in consumer houseware, writing instruments and stationery, and moulded furniture and allied products. Cello World operates 14 manufacturing facilities across six locations in India. The units allow them to manufacture a diverse range of products in-house. Cello has a strong PAN India distribution network with 3,300+ distributors and 1,26,000+ retailers across India. The company has a well-established brand name and strong market positions with a track record of scaling up new businesses and product categories. 

Read More About Cello World Limited Share Price Here!