1. Adlabs Entertainment IPO over-subscribed

Adlabs Entertainment IPO over-subscribed

The initial public offering of theme park operator Adlabs Entertainment was over-subscribed on the last day...

By: | Mumbai | Published: March 17, 2015 6:57 PM

The initial public offering of theme park operator Adlabs Entertainment was over-subscribed on the last day of the issue today.

The issue for sale of 1,76,04,092 shares, received bids for 1,88,03,460 shares, or 1.07 times till 1600 hrs, as per data available with the National Stock Exchange today.

On Thursday, the IPO’s price was lowered to Rs 180-215 from Rs 221-230 per share while the closure date was extended till today, amid tepid response from institutional investors.

The issue had opened on March 10.

Including the anchor investor portion, the IPO is for up to 20,326,227 equity shares. This includes a fresh issue of 18,326,227 equity shares and an offer for sale of 20 lakh shares by promoter entity Thrill Park Limited.

Adlabs Entertainment is promoted by Manmohan Shetty and Thrill Park.

Deutsche Equities India Private Limited, Centrum Capital Ltd and Kotak Mahindra Capital Company Ltd are the book running lead manager to the issue.

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