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

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The maiden public issue is a complete offer for sale (OFS) 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 shares worth up to Rs 10 crore for subscription by eligible employees.

The OFS comprises sale of equity shares worth up to Rs 670 crore by Pankaj Ghisulal Rathod, up to Rs 380 crore by Gaurav Pradeep Rathod, up to Rs 300 crore by Pradeep Ghisulal Rathod, up to Rs 200 crore by Sangeeta Pradeep Rathod and up to Rs 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. In 2017, it ventured into the glassware and opal ware business under the "Cello" brand.

The company has 13 manufacturing facilities in five different locations -- Daman, Haridwar (Uttarakhand); Baddi (Himachal Pradesh); Chennai (Tamil Nadu) and Kolkata (West Bengal) as of March 31, 2023. It is also in the process of setting up a glassware manufacturing facility in Rajasthan.

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

Kotak Mahindra Capital Company Ltd, ICICI Securities Ltd, IIFL Securities Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are book-running lead managers. The shares are proposed to be listed on BSE and NSE.