Wonderla debuts at Rs 165/share; rises 36% over issue price

Bangalore-based  Wonderla Holidays  debuted at the bourses on Wednesday at Rs 164.75 per share. It touched day’s high of Rs 170 in early trade, up 36 percent over its issue price of Rs 125. The amusement park company entered the primary market offering 1.45 crore equity shares, including 21,75,000 equity shares bought by anchor investors, in a price band of Rs 115-125 each. 

The company raised about Rs 27 crore from the anchor investors. Proceeds 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 Arun Kochouseph Chittilappilly and Kochouseph Chittilappilly, who founded V-Guard Industries. The promoters hold a 95.48 percent 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. At 10:13 hrs, the stock was at Rs 156.50 on the BSE.

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