Wonderla Holidays rises 32% in debut trade

The stock opened at Rs164.75 on Friday, Rs39.75 higher than its IPO price of Rs125 

 

Wonderla Holidays currently owns and operates two amusement parks under the brand name ‘Wonderla’, situated at Kochi and Bangalore.

Mumbai: Shares of Wonderla Holidays Ltd opened 32% higher on listing.

The stock debuted at Rs.164.75 on Friday, Rs.39.75 higher than its initial public offering (IPO) price, on BSE at 9:55am.

However, by 10.16am, they had pared some of the earlier gain tos trade at Rs.156.5, up 25.28%.

Wonderla had issued shares at Rs.125 apiece in its IPO, which was oversubscribed 38 times. The company raised around Rs.181 crore. 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.

The company currently owns and operates two amusement parks under the brand name ‘Wonderla’, situated at Kochi and Bangalore. It is in the process of setting up its third amusement park in Hyderabad. The company also owns and operates a ‘3 star’ leisure resort beside the amusement park in Bangalore under the brand name ‘Wonderla Resort’ which has been operational since March 2012.

 

NITESH KUMAR SINGH

PGDM 2ND

SOURCE-- MINT LIVE NEWS