Wonderla Holidays plans to raise about Rs 250 cr
"We are going to raise about Rs 250 crore through equity, mostly through IPO route or through private equity. We are working on that right now. Our initial plan was to go only through IPO. But (now) we have got some good PE companies interested in us," Wonderla Holidays MD Arun K Chittilappilly said.
He said the fund raising plan would be completed in 6 months time and the funds would be utilised for its third greenfield project planned in Hyderabad. Currently, Wonderla Holidays has two theme parks -- one in Kochi and another in Bangalore.
"We will start work on our Hyderabad project within next couple of months. We just finished land acquisition there. The size of the land is about 50 acres and once that is
done, we will start working on that. For Chennai, we have not yet finished the acquisition of the land, it is still going on," he said.
Chittilappilly said the company was planning to finish its first project in Chennai ahead of Hyderabad.
"Now we have finished the land acquisition in Hyderabad. We are going to build. It is a greenfield project. We will start from scratch there (Hyderabad). So, in 2015, we will open (third theme park) in Hyderabad and 2016 hopefully in Chennai.That is the plan", he said.
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