Shares of amusement park operator Wonderla Holidays today made a smart debut, rising nearly 32 per cent over its issue price.
On the BSE, the company’s shares debuted at ₹164.75, up 31.8 per cent against the issue price of ₹125.
Wonderla Holidays’ stock opened the day at ₹160, against the issue price of ₹125, registering a gain of 28 per cent at the NSE.
As trade progressed, the scrip surged to a high of ₹168 and was later trading at ₹158.50, up 26.80 per cent.
The public issue of Wonderla was priced at ₹115-125 per share.
Funds from the issue will be used to set up an amusement park in Hyderabad, the company’s third after Bangalore and Kochi, and for general corporate purposes.
Wonderla is promoted by Arun Kochouseph Chittilappilly and Kochouseph Chittilappilly, who founded V-Guard Industries.
The promoters hold a 95.48 per cent stake in the company and the remaining 4.52 per cent is with employees of the firm and group companies.
Wonderla commissioned its first amusement park in Kochi in 2000 and the second in Bangalore in 2005.