Brands
Adlabs Entertainment takes IPO route to repay partial debt
MUMBAI: Adlabs Entertainment, the company that owns and operates Imagica-The Theme Park has proposed to open a public issue of up to 20,326,227 equity shares of face value of Rs 10 including a share premium per equity share on 10 March.
The company has fixed the price band from Rs 221-230 per equity share. The issue comprises a fresh issue of 18,326,227 equity shares and an offer of sale of 2,000,000 equity shares by Thrill Park Limited. The bid/issue will close on 12 March. The minimum bid lot is 65 equity shares and in multiples of 65 equity shares thereafter.
The issue constitutes 25.44 per cent of the post-issue paid-up equity share capital of the company. Adlabs Entertainment, in consultation with the Global Co-ordinators and Lead Managers, will offer a discount of Rs 12 on the issue price to retail individual bidders.
The issue is being made through the Book Building process wherein at least 75 per cent of the issue shall be allotted on a proportionate basis to Qualified Institutional Buyers (QIB), provided that the company and the selling shareholder may allocate up to 60 per cent of the QIB Potion to Anchor Investors on a discretionary basis. Anchor investors can bid on Anchor Investor Bidding Date, that is 9 March.
The money raised through the Initial Public Offering (IPO) will be used for partial repayment/pre-payment of loans. As per the company, it currently is under a debt of Rs 1100 crore, and hopes to repay close to Rs 330-350 crore through the IPO.
Talking about further plans, Adlabs Entertainment chairman and managing director Manmohan Shetty said, “While the money raised through the IPO will be used for repayment of partial debt. We plan to increase our employee strength from the current 1500 to 2000 by this year end. Not only this, we are planning to open another Imagica in South or North. But, the money raised right now will not be used forfuture plans.”
For the six months ended 30 September 2014, the company’s total income and loss after tax was Rs 73.325 crore and Rs 53.529 crore respectively. Adlab’s revenue from sale of admission tickets, from the F&B operations and retail and merchandise operations for six months ended 30 September, 2014 was Rs 55.382 crore, Rs 11.980 crore and 3.886 crore respectively.
The company will soon be launching its hotel chain as well. The first phase of the proposed 287 key hotel, to be called Novotel Imagica Khopoli, comprising 116 keys, is expected to be completed by March, 2015.
Brands
UltraTech Cement appoints Jayant Dua as managing director
Dua will succeed K. C. Jhanwar after his term ends in December 2026
MUMBAI: UltraTech Cement, the flagship cement arm of the Aditya Birla Group, has elevated Jayant Dua as managing director, effective 1 April, 2026.
The company’s board also approved his appointment as additional director, managing director and key managerial personnel, effective 1 January, 2027, following the completion of the current managing director K C Jhanwar’s term on 31 December, 2026, according to a regulatory filing.
Dua will serve as managing director for a four-year term from 1 January, 2027 to 31 December, 2030.
A veteran executive with more than 37 years of professional experience, Dua joined the Aditya Birla Group’s cement business in 1996 and spent nearly a decade in various functional and leadership roles.
Over the past two decades, he has held several profit-and-loss and chief executive responsibilities across multiple group businesses, including insulators, insurance, Century Cement and the chlor-alkali segment. In 2023, he was elevated to lead the group’s renewables and textiles businesses.
Within the group, Dua has received several internal honours, including the chairman’s individual award for exceptional contribution in 2002, the outstanding leader award in 2009 and the leader of leaders recognition in 2022.
He holds an engineering degree from Indian Institute of Technology Delhi, an MBA from International Management Institute and has completed the advanced management programme at Harvard Business School.
