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ICICI Venture invests ₹360cr in Cello World

November 17, 2022

ICICI Venture invests ₹360cr in Cello World
ICICI Venture Funds Management, the alternative asset arm of ICICI Bank, has invested ₹360 crore in Cello World, India’s second largest branded consumer houseware company, said a company statement.

This is the first private equity raise by Cello World, a family-owned business with presence across 30,000 retail outlets through more than 300 distributors. Cello World focuses on hydration (steel and plastic bottles), thermoware, glassware/opalware categories.

The investment in Cello World is part of ICICI Ventures’ 5th India mid-market focused PE fund (IAF5) which had raised $325 million from existing investors large sovereign wealth funds, insurance companies, banks, fund of funds, family offices.

“Cello World under the leadership of Rathod Family, its capable management team and its pan -India distribution network has demonstrated industry leading growth and profitability characteristics. The organised section of the industry will see further acceleration in the coming years with branding and premiumisation gaining ground,” said Gagandeep Singh, Senior Director, Private Equity, ICICI Venture.

“We are confident of the company maintaining its growth and profitability trajectory while providing the consumer with quality products. We look forward to benefiting from the vast managerial expertise of ICICI Venture as we expand our presence across products and geographies,” said Pradeep Rathod, Chairman and Managing Director, Cello World.

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