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It’s a pre-Diwali bonanza for investors who subscribed Cello World shares. In a blockbuster debut, the shares of Cello World kicked off trading at ₹831 per share on the BSE, a premium of 28.2% over the issue price of ₹648 apiece. On the NSE, the stock opened 27.9% higher at ₹829 per share over the IPO price.
Post listing, Cello World shares gained as much as 28.8% to ₹834.70 on the BSE, while it hit a high of ₹837.40 on the NSE. The market capitalisation increased to ₹16,872 crore at the time of reporting.
The stellar debut of Cello World shares was in sync with broader markets, with BSE Sensed and Nifty50 opening higher, tracking firm cues from global peers. The BSE benchmark Sensex and Nifty were up 0.6% at the time of reporting.
“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,” says Shivani Nyati, Head of Wealth, Swastika Investmart.
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