Wonderla IPO receives overwhelming response; subscribed 38 times

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Wonderla IPO receives overwhelming response; subscribed 38 times
At a time when there are virtually no IPOs and the Sensex is breaching new record highs each day, investors have used the opportunity to lap up the IPO of Wonder Land Holidays. According to exchange data, the IPO has been oversubscribed 38 times.

Wonderla Holidays, is one of the leading operator of amusement parks in the country, opened its Initial Public Offer (IPO) closed its IPO on April 23, 2014.

Through the issue, the company offered 1,45,00,000 equity shares with a face value of Rs. 10 each in a price band Rs 115-125 per equity share i.e. the floor price for subscribing to the issue is 11.5 times the face vale while the maximum or cap price is 12.5 times the face value.

The investors were permitted to make a bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereon. In respect of the allocation of the issue, retail investor class and non-institutional bidders were allocated 35 per cent and 15 per cent of the overall issue size respectively while QIBs including mutual funds shall not be allocated over 50 per cent of the issue.

The overwhelming response to IPO might encourage other promoters to launch similar offerings.

GoodReturns.in


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