Wonderla Holidays plans to raise Rs 250cr from IPO

By Religare
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    Kerala-based Wonderla Holidays, part of the listed Rs 1,000-crore V-Guard company., is planning to dilute as much as 25 per cent equity via an IPO route to partly fund a Rs 250 crore amusement park it plans to set up in Hyderabad.

    The venture would be the company's third after its amusement-park and hotel in Bangalore and in Kerala.

    Reports suggest that the IPO would hit the bourses in the first quarter of 2013.

     

    The company has acquired 50 acres of land near the Hyderabad airport and hopes to finish the Hyderabad project by 2014. On the other hand, the cost of company's Kerala project is estimated to be around Rs 780 crore.

    According to the MD of Wonderla, Arun K. Chittilappilly, the company is not looking to expand beyond South India for the next five years and said that North India features much later on the company's expansion list.

    GoodReturns.in

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