The company's chairman and MD, Pradeep Rathod, joins the three-comma club thanks to his $44% ownership in Cello World, which is currently valued at $1 billion.
The nation's newest member of the billionaires club, Cello World, is a Mumbai-based company that makes a variety of kitchenware products, from snack boxes and water bottles to storage containers and plastic furniture. This week, the company went public.
The company's chairman and managing director, Pradeep Rathod, 59, joins the three-comma club thanks to his $44% ownership in Cello World, which is currently valued at $1 billion, as per Forbes.
Apart from its cookware merchandise, which accounts for over two-thirds of its overall earnings, Cello World also sells pencils, stationery, and moulded furniture.
The shares of Cello World were oversubscribed 39 times and listed at a 28% premium to their IPO price of 648 rupees.
The success of this IPO, according to Deepak Jasani, head of retail research at Mumbai-based HDFC Securities, is due to "great timing and improved sentiments in the market towards midcap stocks."
Over the previous two years, Cello World has seen an astounding 70% increase in sales; in the fiscal year that ended in March 2023, the company brought in 17.97 billion rupees ($219 million). Net profit increased by 58% over that time to 2.8 billion rupees ($35 million).
Investors were drawn to the company's wide array of plastic, glass, and porcelain products even though the IPO wasn't priced cheaply.
In this busy market, Cello World faces competition from other well-known brands including Borosil, TTK, Milton, and La Opala.
The founding of Cello World dates back to 1962, when Pradeep's late father, Ghisulal Rathod, joined forces with a tiny manufacturer of plastic goods. Building on this heritage, Pradeep and his 56-year-old younger brother Pankaj, who works as the company's joint managing director, have expanded into new product categories.
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 "Meet Pradeep Rathod, India's new billionaire, chairman of Rs 1797 crore revenue company")
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