Household products and stationery manufacturer Cello World Ltd has filed preliminary papers with capital market regulator Sebi to raise INR 1,750 crore through an initial public offering (IPO), according to a PTI report.

The maiden public issue, with a face value of INR 5, is a complete offer for sale (OFS) of up to INR 1,750 crore by promoters and other selling shareholders with no fresh issue of equity share component, according to the draft red herring prospectus (DRHP) filed on Monday.

The offer includes a reservation of up to INR 10 crore for subscription by eligible employees. Reportedly, the FS comprises sale of equity shares worth up to INR 670 crore by Pankaj Ghisulal Rathod, up to INR 380 crore by Gaurav Pradeep Rathod, up to INR 300 crore by Pradeep Ghisulal Rathod, up to INR 200 crore by Sangeeta Pradeep Rathod and up to INR 100 crore each by Babita Pankaj Rathod and Ruchi Gaurav Rathod.

Mumbai-based Cello World has a product portfolio across three key categories — consumer houseware, writing instruments and stationery, and moulded furniture and related products. During the Financial Years 2021, 2022 and 2023, Cello claims to have launched 397, 169 and 380 new products across its three product categories, respectively.

The company’s consolidated revenue from operations increased 32.2% to INR 1,796.69 crore for the fiscal year 2023 from INR 1,359.18 crore a year ago. Besides, its net profit rose 30% to INR 285 crore in FY23 from INR 219.52 crore in the preceding fiscal, as per the report.