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Shares of Wonderla Holidays today fell 3.8 per cent on worries existing investors would churn in favour of rival Adlabs Entertainment’s initial public offering.
Adlabs plans to raise as much as Rs 449 crore ($72.6 million) via IPO, as per an advertisement in a newspaper.
The IPO will open on March 10 and close on March 12.
Deutsche Equity India, Centrum Capital and Kotak Mahindra Capital are managers to the sale ($1 = 61.8300 Indian rupees).
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