Sebi seeks fresh clarification on Adlabs Entertainment's IPO

SEBI has sought fresh clarifications from Adlabs Entertainment, the owner and operator of Imagica-The Theme Park, regarding the company's proposed IPO for which it had received the draft offer documents on May 22, 2014, through its lead manager.

Without disclosing the details of clarifications sought, Sebi has said clarifications (are) awaited from lead manager for the proposed public issue.

Adlabs Entertainment had filed initial papers with market regulator Sebi for its public issue of 2.3 crore equity shares of face value of Rs 10 each. The issue comprises 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.

The company intends to deploy the funds raised from the fresh issue for payment of loans and general corporate purposes.

Deutsche Equities India Pvt Ltd, Centrum Capital Ltd and Kotak Mahindra Capital Company were appointed as the 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.