Wonderla Holidays Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Wonderla Holidays has submitted a compliance filing confirming no deviation or variation in the utilisation of Rs. 540 crore raised through a Qualified Institutions Placement (QIP) on December 6, 2024. The funds are being deployed as planned: Rs. 351 crore for Wonderla Chennai Park development, Rs. 25 crore for Glamping Pods at Bengaluru, Rs. 16 crore each for resort refurbishment and roller coaster ride at Bengaluru, and Rs. 117 crore for general corporate purpose. Issue expenses of Rs. 15 crore were deducted, leaving net proceeds of Rs. 525 crore. CARE Ratings is monitoring the fund utilisation. Both the audit committee and auditors have stated no comments.
This is a positive signal for shareholders as it confirms proper deployment of QIP proceeds with no deviations, indicating good corporate governance and execution discipline. The full Rs. 540 crore has been accounted for with no unexplained variations.