QIP launch effect: Wonderla Holidays shares rise 14% 

Shares of Wonderla Holidays rose over 14% on Wednesday after the amusement park firm launched its qualified institutional placement (QIP). Wonderla Holidays stock zoomed 14.5% to Rs 947.95 against the previous close of Rs 827.95 on BSE. The stock opened higher at Rs 842.60 today. The stock has gained 4.51% since the beginning of this year and lost 5.60% in a year. 

A total of 0.66 lakh shares of the firm changed hands amounting to a turnover of Rs 5.97 crore on BSE. The market cap of Wonderla Holidays rose to Rs 5,083 crore. The stock fell to a 52-week low of Rs 772.05 on August 14, 2024 and rose to a 52 week high of Rs 1106.70 on April 8, 2024. 

In terms of technicals, the relative strength index (RSI) of Wonderla Holidays stands at 41.5, signaling it's trading neither in the overbought not in the oversold territory. The stock has a beta of 1, indicating average volatility in a year. Wonderla Holidays shares are trading higher than the 5-day, 20-day, 30 day, 50-day, 100-day, 150 day and 200-day moving averages.    

The board of the company fixed the QIP's floor price at Rs 829.74 per share, amounting to a premium of 0.22 per cent to the previous close. 
 
"We further wish to inform you that the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, is December 3, 2024, and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs 829.74 per Equity Share," the filing read.
 
On October 4 this year, the board cleared raising of funds for an aggregate amount not exceeding Rs 800 crore by way of private placement, qualified institutions placement, preferential issue, or any other method.

Wonderla Holidays is engaged in the business of amusement parks and resorts. The company's segments include amusement park, resort and others. Its others segment includes sales of merchandise, cooked food, packed foods and others. The company operates approximately three amusement parks in Kochi, Bangalore and Hyderabad under the brand name Wonderla. Wonderla Bangalore is spread across approximately 80 acre and has over 61 thrill-packed rides offering entertainment and fun for all age groups.