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Wonderla Holidays Ltd has filed a Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering of 1.45 crore equity shares of face value of Rs 10 each for cash at a price to be decided through a 100 per cent book-building process.
The issue would constitute 25.66 per cent of the fully diluted post issue paid up equity share capital of the company. The equity shares offered in the issue are proposed to be listed on the BSE and the NSE.
The book running lead managers to the issue are Edelweiss Financial Services Ltd and ICICI Securities Ltd, a press statement issued here said.
The company currently owns and operates two amusement parks under the brand name Wonderla at Kochi and Bangalore. It also owns and operates a resort in Bangalore under the brand name Wonderla Resort.
The company is in the process of setting up their third amusement park in Hyderabad, and the issue proceeds will primarily be utilised towards this purpose.
The issue is being made through a 100 per cent book-building process wherein 50 per cent of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers (QIB), provided that up to 30 per cent of the QIB portion may be available for allocation to anchor investors on a discretionary basis.
Five per cent of the QIB Portion (excluding anchor investor portion) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.
Further, not less than 15 per cent of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35 per cent of the issue shall be available for allocation to retail individual bidders in accordance with SEBI (Issue of Capital and Disclosure requirements) regulations, subject to valid bids being received at or above the issue price.
> sajeevkumar.v@thehindu.co.in
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