Wonderla Holidays soars 28% on NSE debut

Our Bureau | | Updated on: Mar 12, 2018

Likely to complete Hyderabad amusement park project in 2 years

Amusement park operator Wonderla Holidays debuted on NSE on Friday at ₹160, which was a 28 per cent premium over the issue price of ₹125.

Shares of Wonderla Holidays closed on NSE at ₹157.80, much above the issue price. On the BSE, the company’s shares debuted at ₹164.75 a share.

“Given the demand at the IPO stage, we were expecting the shares to list at a premium. It was good to know the shares got listed with a 28 per cent premium over issue price,” Arun Chittilappilly, a promoter and Managing Director, Wonderla Holidays, told Business Line .

In the IPO, the company had mobilised ₹181 crore, including ₹27 crore from the anchor investors.

The IPO proceeds are mainly to be utilised for setting up an amusement park in Hyderabad. This will be the company’s third amusement park after Kochi and Bengaluru.

Wonderla commissioned its first amusement park in Kochi in 2000 and the second in Bengaluru in 2005.

“We expect to complete the Hyderabad project in the next 24 months. After completion, we will look to enter the Chennai market,” he said.

The company may look to raise debt of ₹20-30 crore to part-finance the Hyderabad project.

Published on May 09, 2014
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