Wonderla Holidays plans to raise Rs 200 cr via IPO

Wonderla Holidays, which runs two amusement parks in Kerala and Bangalore, plans to hit the primary market soon with Rs 200 crore IPO.

The company, promoted by Kochi-based electrical goods maker V-Guard Group, hopes to open the IPO within a few weeks. It is expecting the final go-ahead from the markets watchdog Sebi soon and plans to raise around Rs 200 crore from the IPO, merchant banking sources told PTI.

Sebi had sought some clarifications to the DRHP filed last April, the sources said, adding that the company is in the process of filing that.

When contacted, V-Guard Group managing director Mithun Chittilappilly refused to comment citing regulatory issues, while company Wonderla managing director Arun Chittilappilly could not be reached.

The promoters of the Bangalore-headquartered Wonderla Holidays hold over 95 per cent in the company, with the employees holding under 5% through Esops. The company plans to divest a tad over 25 per cent promoters' stake through the IPO, sources said.

According to the DRHP, the issue will constitute 25.66 per cent of the fully diluted post-issue paid-up equity share capital of the company.

Edelweiss Financial Services and ICICI Securities are the book-running lead managers to the issue.

Wonderla Holidays currently owns and operates two amusement parks in Kochi and Bangalore. It opened the Kochi park in 2002 and also operates a resort besides the amusement park in Bangalore under brand name Wonderla Resort.

EDITORIAL OF THE DAY

  • Sebi’s guidelines for commodity bourses will help farmers get fair price

    As the timeline for the proposed merger of the Forward Market Commission (FMC) with the Securities and Exchange Board of India (Sebi) comes closer, th

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

M S Swaminathan

State must intervene to end farm distress

The persistence of farmers’ suicides inspite of the several programmes ...

Zehra Naqvi

Why lie, not like, drives Facebook

So much has been written about how social media and ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture