Monday, 26 May 2014

Adlabs goes for IPO

Adlabs Entertainment files IPO papers with SEBI. Adlabs Entertainment has filed initial papers with market regulator SEBI for its public issue of 2.3 crore equity shares of face value of `10 each. It would comprise a fresh public issue of up to 2.2 crore shares and an offer for sale of up to 20 lakh shares by the promoter Thrill Park Ltd. Adlabs Entertainment runs amusement park – Adlabs Imagica. Located on the Mumbai-Pune expressway, the park was built by film producer and director Manmohan Shetty. The company intends to deploy the funds raised from the fresh issue for payment of loans and general corporate purposes. Besides, the company is considering a pre-IPO placement of up to three lakh equity shares for an amount not exceeding `80 crore. The company has appointed Deutsche Equities India Pvt Ltd, Centrum Capital Ltd and Kotak Mahindra Capital Company as book running lead managers for the issue. The equity shares are proposed to be listed on the Bombay Stock Exchange as well as the National Stock Exchange.

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