Adlabs Entertainment, which runs an amusement park, will come out with an initial public offer (IPO) on March 10.The issue will close on March 12, as per the latest data available with the capital markets regulator SEBI.
Adlabs Entertainment runs an amusement park - Adlabs Imagica. Located on the Mumbai-Pune expressway, the park was built by film producer and director Manmohan Shetty.
The firm plans to issue 2.03 crore shares including 20 lakh shares offered for sale by the promoter, Thrill Park Ltd.
The company intends to deploy the funds raised from the fresh issue for payment of loans and general corporate purposes. The equity shares are proposed to be listed on the BSE as well as the National Stock Exchange.
Adlabs Entertainment, which filed its initial papers with SEBI in May, had received market regulator’s approval in October to float its IPO.