Wonderla Share Price Zooms As Amusement Park Chain Launches QIP
Three analysts tracking the company maintain a 'buy' rating according to Bloomberg data.
Wonderla Holidays' share price rose nearly 15% in Wednesday morning trade after the company opened its qualified institutional placement on Wednesday. As mentioned in an exchange filing, the floor price for the QIP is Rs 829.74 per equity share.
During a board meeting on Oct. 4, Wonderla Holidays had approved plans to raise up to Rs 800 crore through various funding methods, including private placement, QIP, preferential issue, or a combination of these approaches. The company may raise the funds in one or more tranches, subject to shareholder approval. A special resolution for the same had been passed on Nov. 9.
The scrip rose as much as 14.69% to Rs 947.40 apiece, the highest level since July 9, 2024. It pared gains to trade 11.36% higher at Rs 919.90 apiece, as of 10:22 a.m. This compares to a 0.22% advance in the NSE Nifty 50 Index.
It has risen 7.53% on a year-to-date basis, underperforming the benchmarks. Total traded volume so far in the day stood at 27 times its 30-day average. The relative strength index was at 71.88.
Three analysts tracking the company maintain a 'buy' rating according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.9%.
