Adlabs mulls pre-IPO placement

Adlabs Entertainment is considering a pre-IPO placement of 30 lakh shares for a value not exceeding ₹80 crore said a company announcement. The allotment would be done prior to filing of the red herring prospectus with the registrar of companies. The issue size to the public would be reduced to the extent of the pre-IPO placement, the statement said. The company has filed papers with SEBI for an IPO of up to 2.3 crore equity shares. The offering comprises a fresh issue of up to 2.1 crore shares and an offer-for-sale of up to 20 lakh shares by Thrill Park, the largest shareholder.