India's newest billionaire is casserole king Pradeep Rathod after Cello World's successful stock market debut

The successful stock market debut of Cello World has minted a new billionaire: Casserole king Pradeep Rathod. On Friday, the stock settled down at Rs 788.40, giving it a market cap of Rs 16,732.29 crore. The stock had made its market debut on Monday. Rathod, who,along with his other family members, holds a little over 78% in the company. The shareholders who got their allotment in the IPO are happy too,. The public issue had a price band of Rs 617-648 per share. The issue had also seen a strong demand, subscribed nearly 39 times.

Mumbai-based Cello World, famous for its casseroles, 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.

Analysts attributed the positive stock market response to company's strong brand recognition and pan-India presence, though the stock has seen profit taking from higher levels.


Rathod, who has over 40 years of experience in the plastic and thermoware industry, played a crucial role in the company's success. He is joined on the board by his son Gaurav and younger brother Pankaj, who serve as joint managing directors. Cello World was founded by Rathod's father, Ghisulal Rathod, in 1967.

It initially focused on manufacturing PVC footwear and bangles before expanding into casseroles in the late 1980s. Inspired by his visit to the US, where he saw people using small round-shaped plastic containers to preserve the warmth of perishable items, Ghisulal introduced casseroles to the Indian market.

Over time, Cello diversified its product range to include plastic furniture, cookware, and kitchen appliances. This is the second company from the same group to be listed on the stock market. The first, Wim Plast, specializes in plastic products and has a market cap of around Rs 700 crore.

Today, Cello World operates 13 manufacturing facilities across five locations in India. Pradeep Rathod's contributions extend beyond business. He is actively involved in philanthropic endeavors and serves as a trustee for the Badamia Charitable Trust. Additionally, Rathod holds the position of president at the JITO Administrative Training Foundation.