Wonderla Holidays Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Wonderla Holidays Limited has submitted a compliance filing confirming there is no deviation or variation in the utilisation of Rs. 540 crore raised through a Qualified Institutions Placement (QIP) completed on December 6, 2024. The funds are being deployed as per the stated objects, with Rs. 351 crore already utilised towards the Wonderla Chennai Park development (out of Rs. 390 crore allocated), Rs. 57 crore for Bengaluru projects including glamping pods, refurbishment, and a new roller coaster ride, and Rs. 117 crore for general corporate purposes. Issue expenses of Rs. 15 crore have been deducted, resulting in net proceeds of Rs. 525 crore. CARE Ratings Limited is the monitoring agency.
The filing provides assurance to shareholders that QIP funds are being deployed as intended without any deviation, which is a positive indicator of fund management discipline and adherence to the stated expansion plans.