Wonderla Holidays' shares surged nearly 15 percent on December 4 after the company launched its Qualified Institutions Placement (QIP) issue, with the floor price at Rs 829.7 per share.
At 11:40 AM, the stock was trading 11 percent higher at Rs 918. Year-to-date, Wonderla's shares have gained just over 6 percent, lagging behind the Nifty 50’s 13 percent rise during the same period.
In a board meeting on October 4, Wonderla Holidays approved plans to raise up to Rs 800 crore through various methods, including private placement, QIP, preferential issues, or a combination of these. The company could execute the fund-raising in multiple tranches, subject to shareholder approval. A special resolution for the same was passed on November 9.
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Additionally, Wonderla has approved an increase in its authorised share capital from Rs 60 crore (6 crore equity shares of Rs 10 each) to Rs 80 crore (8 crore equity shares of Rs 10 each).
Wonderla Holidays is engaged in the business of amusement parks and resort. Currently, it operates four amusement parks in Bangalore, Hyderabad, Bhubaneswar, and Kochi, along with a resort in Bangalore.
For Q2FY25, the company reported an 8.9 percent rise in net profit, which reached Rs 14.7 crore, compared to Rs 13.5 crore in the same quarter last year. However, sales fell 10.4 percent, dropping to Rs 67.4 crore from Rs 75.2 crore in the year ago period.
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