KOCHI: The recent listing of Wonderla Holidays, the amusement park-cum-water theme park controlled by Chittalappily family, has made the Kochi-based family richer by a whopping `859.94 crore.
Chittalappily family owns 70.97 per cent in Wonderla Holidays, which recently made a debut on stock exchanges with stock prices zooming by 70 per cent since listing in April. The IPO was subscribed 38 times as retail investors and HNIs flocked to buy the shares, creating huge demand.
Chittalappily family led by promoter Kochouseph Chittalappily owns 66.16 per cent in V-Guard Industries, where the family’s ownership is worth Rs 1,125.54 crore based on the current market price of Rs 570 apiece on stock markets. Combining Wonderla and V-Guard, Chittalappily family is worth nearly Rs 2,000 crore.
Wonderla Holidays Limited operates two largest amusement parks in Bangalore and Kochi under the brand name Wonderla. Wonderla Kochi (previously known as Veega Land), located 15 km from Kochi city, is home for 55 amusement rides. Spread over 30 acres of landscaped space, built to international standards, Wonderla - Kochi has completed 12 years of operation providing a joyful experience for more than a crore visitors.
Chittalappily family is not alone in using Dalal Street route to unlock value of their enterprises from Kerala.
C J George of Geojit Securities is worth Rs 201 crore based on his 21.14 per cent stake in the Kochi-based stock broking outfit.
Similarly, the promoters of Kitex Garments, another Kochi-based group, is worth Rs 636.37 based on its 54.24 per cent stake in the company. The share price of Kitex Garments is quoted at Rs 247.80 apiece on the BSE.