Kochi, Apr 11 UNI | 3 months ago

Kerala based Wonderla Holidays,which operatestwo amusement parks at Kochi and Banglaore, would hit the marketwith a public issue of equity shares on April 21.


Informing this at a news conference here today Wonderla
Holidays Managing Director Arun K Chittilappilly said that
through the public issue the company wanted to raise 181.25
crore.

Regarding the purpose of raising the fund, he said that the
company was going to set up its third amusement park in ranga
Reddy District of Andhra Pradesh and 50 acre land for the purpose
had already acquired.

Stating that the total investment would be around Rs 255
crore, he said that the project would be completed n 22 months
and hopefully start functioning with 50 rides in 2017.

The initial public offering of 14.5 million shares by the
company would constitute 25.66 per cent of the fully diluted post
issue paid up equity share capital of the company.The price band
for the issue has been fixed between Rs 115 and Rs 125 per equity
share of Rs 10 face value.

The company plans to raise Rs 166.75 crore at lower price
band and Rs 181.25 crore at the upper price band, he added.

(Posted on 12-04-2014)