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The initial public offering (IPO) of theme park operator Adlabs Entertainment was subscribed 60 per cent on Monday, a day before its closing. The offering received 10.6 million bids, against 17.6 million on offer. The retail investor category was subscribed 1.1 times, while the other two segments --- for qualified institutional buyers and high net worth individuals --- were covered a little over half. Adlabs was to close its issue on Thursday but the company was forced to delay it by three trading days.
Also, it had to slash its price band by about 20 per cent; the revised price band is Rs 180-215 a share, compared with Rs 221-230 a share earlier. For retail investors, the company is offering an additional discount of Rs 12 a share.
