Adlabs Entertainment allots 27.22 lakh equity shares to 5 anchor investors

NEW DELHI: Adlabs Entertainment Limited has finalised allocation of 27,22,135 equity shares to anchor investors - Daiwa India Stock Active Mother Fund, HDTC Infrastructure Fund, Axis Mutual Fund, L&T Mutual Fund and IL&FS Trust Co (Forefront Alternative Equity Scheme) at Rs. 221 per Equity Share aggregating to Rs. 60.16 crore, the company said in a release.

The Company proposes to open on March 10, 2015, a public issue of up to 20,326,227 equity shares of face value of Rs. 10 each ("Equity Shares") including a share premium per Equity Share (the "Issue"). The Price Band is fixed from Rs. 221 to Rs. 230 per Equity Share.

The Company in consultation with the Global Co-ordinators and Lead Managers (GCLMs), offers a discount of Rs. 12 on the Issue Price to Retail Individual bidders.

The promoters are Mr. Manmohan Shetty and Thrill Park Limited. The Issue comprises a fresh issue of 18,326,227 Equity Shares (the "Fresh Issue") and an Offer for Sale of 2,000,000 Equity Shares ("Offer For Sale") by Thrill Park Limited.

The Bid/ Issue closes on March 12, 2015. The minimum Bid lot is 65 Equity Shares and in multiples of 65 Equity Shares thereafter. The Issue constitutes 25.44% of the Post-Issue paid-up Equity Share Capital of the Company.

Also, 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price, added the note.