More than focusing on profits, Adlabs Entertainment would look to increase the footfalls, says Chairman Manmohan Shetty, Chairman.
Shares of Adlabs Entertainment rallied more than 7 percent on Monday, the first day of trading on exchanges. The stock closed at Rs 192.65 on the National Stock Exchange against issue price of Rs 180.
Adlabs Entertainment is promoted by Manmohan Shetty and Thrill Park. Deutsche Equities India Private Limited, Centrum Capital Ltd and Kotak Mahindra Capital Company Ltd are the book running lead manager to the issue.
On Friday, the IPO's price was lowered to Rs 180-215 from Rs 221-230 per share while the closure date was extended to March 17, amid tepid response from institutional investors.
Adlabs Entertainment on Thursday has extended a closing date for its Rs 470-crore public issue by three more days. The issue, which was supposed to close today, will remain opened till March 17.
The Rs 400-crore IPO, excluding the shares allotted to anchor investors, received bids for 32,01,965 shares against the total issue size of 1,76,04,092 shares, data available with the NSE showed.The anchor investors were allotted shares worth Rs 60 crore but at the lower end of the price band.
Adlabs Entertainment has opened its Rs 470 crore public issue for subscription today. The issue, which will close on March 12, consists of a fresh issue of 183.26 lakh shares and an offer for sale of 20 lakh shares by Thrill Park.
The public issue of Adlabs Entertainment has opened for subscription today. The company, which runs an amusement park, Adlabs Imagica, is going to issue 203.26 lakh equity shares at a price band of Rs 221-230 apiece. The issue will close on March 12
The Rs 470-crore public issue of Adlabs Entertainment has opened for subscription today. The company, which runs an amusement park - Adlabs Imagica, is going to issue 203.26 lakh equity shares at a price band of Rs 221-230 apiece.
The Manmohan Shetty-promoted company will sell up to 2,03,26,227 equity shares of face value of Rs 10. The issue comprises a fresh issue of 18,326,227 equity shares and an offer for sale of 2,000,000 equity shares by Thrill Park Limited.
The equity shares are proposed to be listed on the BSE as well as the National Stock Exchange. Adlabs Entertainment, which filed its initial papers with Sebi in May, had received market regulator's approval in October to float its IPO.
The funding is part of the pre-IPO placement offering committed by investors in the IPO documents filed with Sebi this May, the company said.
After stints in film production and exhibition, Manmohan Shetty starts an entertainment theme park. Can he turn it into a viable business?
Six years since the project was first conceptualised, Adlabs Imagica, positioned as South Asia's largest amusement theme park, will open its doors to the public on Thursday. CNBC-TV18‘s Farah Bookwala reports.
The Securities Appellate Tribunal (SAT) on Friday upheld the SEBI order on Manmohan Shetty, the founder of Adlabs Films (now, Reliance Mediaworks) who was found guilty of violating the provisions of the code of conduct applicable to the top management of listed entities.
In a partial repreive to Manmohan Shetty, former chairman of media company Adlabs Films, the Securities Appellate Tribunal (SAT) today lowered the penalty amount to Rs 25 lakh from Rs 1 crore for alleged violation of regulatory norms.