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  1. Adlabs IPO price band fixed at Rs 221-230, aims to raise Rs 450 cr

Adlabs IPO price band fixed at Rs 221-230, aims to raise Rs 450 cr

Theme park and entertainment business company, Adlabs Entertainment has fixed price band of its initial public offering (IPO) at R221-230 per share.

By: | Mumbai | Updated: March 3, 2015 5:15 AM

Theme park and entertainment business company, Adlabs Entertainment has fixed price band of its initial public offering (IPO) at R221-230 per share. The company is offering a R12-discount to retail investors.

The issue, the second for CY15 and sixth for FY15, will open on March 10 and close on March 12. The anchor book will open one day earlier. Adlabs will sell a little over 2.03 crore shares and aims to raise about R450 crore from the public issue.

The company that operates Imagica and Aquamagica theme parks, will the money to part repay its outstanding debt.

Theme park, Adlabs Entertainment, Imagica, Aquamagica theme parks, Sebi

Adlabs Entertainment, which filed its DRHP with Sebi in May, had received market regulator’s approval in October to float its IPO. The company’s outstanding debt stood at R1,083.78 crore as on quarter ending December 31, 2014.

Odisha-based cable television service provider, Ortel Communication will launch its R240 crore IPO on Tuesday. The company will sell 1.2 crore shares at a price of R181-200 per share. On Monday, Ortel sold 25.57 lakh shares to anchor investors at Rs 181. ICICI Prudential Life Insurance was allotted 16.57 lakh shares, while Axis Mutual Fund (Midcap Fund) was allotted 6 lakh shares and Axis Mutual Fund (Small Cap Fund) was allotted 3 lakh shares on Monday.

Five companies have tapped capital markets so far in FY15.  The list comprises of Sharda Cropchem (R351 crore), Monte Carlo Fashions (R350 crore), Snowman Logistics (R197 crore), Wonderla Holidays (R181 crore) and Shemaroo Entertainment (R120 crore).

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Tags: Sebi

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