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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.
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Boeing appoints Barun as head of FP&A for global engineering function
Seasoned finance leader to steer budgets and strategy across global centres
BENGALURU: Boeing’s finance cockpit has a new pilot, and he is no stranger to turbulence or transformation. Boeing has appointed Barun as head of FP&A for global engineering, placing him at the centre of financial strategy for its worldwide engineering and technology operations.
Based in Bengaluru, Barun steps into a role that is as expansive as it is critical. He will serve as the primary finance lead for Boeing’s Engineering and Technology Centers globally, working closely with executive leadership to shape financial decisions, manage complex budgets, and design scalable finance processes that support the company’s growing engineering footprint.
In a note announcing his move Barun said, “I’m excited to share that I’ve joined Boeing Global Engineering. This opportunity is incredibly meaningful to me not just from a professional standpoint, but also for what Boeing represents globally.” He added that he looks forward to contributing to an organisation that continues to shape the future of aerospace and innovation.
Barun’s mandate spans strategic financial leadership, operational oversight, and stakeholder engagement. From directing large-scale budgets and schedules to influencing long-term organisational goals, the role blends financial discipline with business foresight. He will also lead cross-functional teams and partner with finance colleagues worldwide to support engineering programmes across geographies, including India.
The appointment caps a long stint at Juniper Networks, where Barun spent over a decade, most recently as finance senior manager. There, he led FP&A for global product business units and G&A functions, driving budgeting, forecasting, and long-range planning. He also played a key role in enterprise-wide transformation, including spearheading an Oracle to SAP ERP migration and building advanced analytics capabilities using tools such as Tableau and SAP Analytics Cloud.
His earlier career includes finance leadership roles at Sony India Software Centre, Cognizant Technology Solutions, and Mphasis, where he focused on financial planning, governance frameworks, and operational efficiency across global delivery centres.
A chartered accountant from the Institute of Chartered Accountants of India, Barun brings nearly two decades of experience across financial planning, digital transformation, and analytics-led decision making.
His appointment comes at a time when global engineering operations are becoming increasingly complex and distributed, requiring sharper financial oversight and agile planning. With Barun at the helm of FP&A for engineering, Boeing appears to be tightening its financial playbook as it looks to scale innovation with discipline.
