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Amusement park operator Wonderla Holidays has raised about Rs 27 crore from anchor investors ahead of its initial public offer next week, selling shares at the upper end of the price band.
The company plans to raise over Rs 180 crore through the initial public offer, the first in the current financial year. The offer will be open from April 21 to April 23.
Wonderla allotted shares to three anchor investors - Aditya Birla Private Equity Trust (6.75 lakh shares), TV Shriram Growth Fund 1B (7.75 lakh shares) and HDFC Trustee Company - HDFC Infrastructure Fund (7.25 lakh shares).
"The board of directors of the company at its meeting held on April 17, 2014, have finalised allocation of 2,175,000 equity shares to anchor investors...at the price of Rs 125 per equity share," Wonderla said in a communication to exchanges.
The Bangalore-based firm is entering the primary market offering 1.45 crore equity shares of face value of Rs 10 each in a price band of Rs 115-125.
At the upper end of the band, the IPO could fetch about Rs 181 crore, while at the lower end, the proceeds would be to the tune of Rs 167 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.
Wonderla is promoted by Kochouseph Chittilappilly, who founded V-Guard Industries, and Arun Kochouseph Chittilappilly.
The promoters hold a 95.48 per cent stake in the company and the remaining 4.52 per cent is with employees of the firm and group companies.
Wonderla commissioned its first amusement park in Kochi in 2000 and the second in Bangalore in 2005.