Wonderla Holidays surges 28 per cent on debut

Written by PTI | Mumbai | Updated: May 10 2014, 13:58pm hrs
Amusement park operator Wonderla Holidays surged 28 per cent on its debut in the stock market after its initial public offer of shares last month was subscribed 38 times.

Wonderla Holidays shares climbed to Rs 160 at the close on the National Stock Exchange, compared with the price of Rs 125 at which the stock was sold in the IPO. During the day, it zoomed 34.4 per cent to Rs 168.

On the BSE Sensex, the scrip soared 26.08 per cent to settle at Rs 157.60.

While over 34 lakh shares were traded on the NSE, 13.54 lakh shares of the company changed hands on the BSE.

The Rs 180-crore issue of about 1.23 crore Wonderla shares was priced at the upper end of the Rs 115-125 price band. The IPO attracted bids for over 46.79 crore shares.

The company said the funds raised will be used to set up an amusement park in Hyderabad, its third after Bangalore and Kochi, and for general corporate purposes.

Wonderla is promoted by Arun Kochouseph Chittilappilly and Kochouseph Chittilappilly, who founded V-Guard Industries. The promoter and promoter group hold a 70.97 per cent stake in the company, as per its latest shareholding pattern.

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