Mumbai
Wonderla Holiday Limited, India’s amusement park operators, have gone public with their IPO bid. The company will open the bid on April 21, 2014 and will close it on April 23, 2014.
“With a price band fixed between Rs 115 to Rs 125, we aim to raise capital from the market for our upcoming project, Wonderla Hyderabad which is expected to be fully functional in FY 2017. We’ve acquired about 50 acres of land outside Hyderabad. In terms of size, our Hyderabad park will be similar to that of Bengaluru , but of course, in terms of technology we will be updating and using the modern methods for building our Hyderabad park,” said Arun Chittilapilly, Managing Director, Wonderla Holidays Limited during the IPO press conference held in Mumbai.
Commenting on whether Wonderla Kochi has reached a saturation point, Nandakumar T, Vice President – Finance, Wonderla Holidays Limited explained, “Wonderla Kochi has recorded footfalls of 23.40 lakhs in FY 2013 and 17. 50 lakhs in the nine month period. So, the property has seen a decilne in the footfall this year which is true, however, the reason behind it isnt that it has reached a saturation point. It is mainly due to do the excessive monsoons Kerala has seen this year.”
Considering the recent mishaps in amusement parks, safety standards at Wonderla properties were discussed and how that would affect the IPO. Chittilapilly said, “We’ve an impeccable travel chart. Wonderla brand has a track record of 14 years without any unfornuate accidents or events under our name. Moreover, for every ride we’ve well-documented check list. And those are our safety standards. Plus, we’re the only amusement park in India who manufactures our own rides. This helps us understand machinery in an intrinsic manner. So, I think its a question of discipline and experience.”
Read the full report here, Hospitality Biz
