Entertainment World Developers has revealed its plans to launch Rs 600-crore initial public offer (IPO) by early next year.

The company will fill the DRHP with market regulator SEBI by January 2010.

According to an official statement, the promoters of company would dilute 25 per cent of their holding in the company. The promoters of the company, the Kalani family, currently hold 60 per cent in EWDPL, while the remaining is held by Phoenix Mills.

The company would utilize the issue proceeds for general corporate purposes and repayment of debt.

Presently, Entertainment World is developing 10 hotels, 13 shopping complex, besides 11 townships in cities spread across central, western and southern India.

ICICI Securities, Kotak, Edelweiss and Macquarie are appointed as book running lead managers for the issue.