The initial share sale of theme park operator Adlabs Entertainment got subscribed 60 per cent a day ahead of the issue closure.
The issue for sale of 1,76,04,092 shares, received bids for 1,06,31,725 shares, or 60 per cent till 1700 hrs, as per data available with the National Stock Exchange on Monday.
On Thursday, 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.
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The quota for qualified institutional investors received 53 per cent subscription, while that for non-institutional investors got subscribed 36 per cent.
Retail investors category was subscribed 1.11 times.
Including the anchor investor portion, the sale is up to 20,326,227 equity shares. This includes a fresh issue of 18,326,227 equity shares and an offer for sale of 20 lakh shares by promoter entity Thrill Park Limited.
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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.