Adlabs Entertainment IPO gets 47 per cent subscription

Adlabs Entertainment's initial public offer (IPO) got subscribed 47 per cent on the fourth day of offer on Friday.

On Thursday, the theme park operator's 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.

The initial share sale had been subscribed 47 per cent till 5:00 pm, according to data available with the National Stock Exchange (NSE).

The quota for qualified institutional investors received 40 per cent subscription while that for non-institutional investors got subscribed 11 per cent.

Issue portion reserved for retail investors has already been fully subscribed.

The IPO, which opened on March 10, is for sale of 1,76,04,092 shares.

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.

Adlabs Entertainment is promoted by Manmohan Shetty and Thrill Park.