Inox to expand to 23 multiplexes; IPO price band at Rs 100-120

MUMBAI: Inox Leisure Limited, which currently operates a chain of eight multiplexes in seven cities under the Inox brand, plans to scale up to 23 multiplexes across 16 cities over the next 30 months. The number of screens are to increase from 32 to 98 during this period.

The company, which is entering the capital market on 27 January with a public issue of 16.5 million equity shares of Rs 10 each, has fixed the price band between Rs 100 and Rs 120. The issue closes on 2 February.

The offer will consist of a fresh issue of 12 million equity shares and an offer for sale of 4.5 million equity shares by the promoter, Gujarat Fluorochemicals Limited.

The fresh issue portion will raise Rs 1.20 billion at the lower end of the price band and Rs 1.44 billion at the upper end. The funds raised from the issue will be utilised to set up new multiplexes on a capital outlay of Rs 1.11 billion. The rest of the proceeds will be for general corporate and issue expenses.

The issue will constitute 27.5 per cent of the fully-diluted post-issue paid-up capital of the company. Post IPO, the promoter's shareholding will come down to 66 per cent.

"Our strength lies in the fact that our multiplexes are at premium locations. Either they are in affluent areas or in places where there is heavy traffic of population," Inox Leisure director Deepak Asher said while addressing the press here today.

Inox has another advantage through its recent tie-up with the Pantaloon Group. According to this agreement, Inox will have preferential access to all real estate developments that the Pantaloon Group takes up as part of its retail chain. "This will provide us access to properties as we go ahead. Pantaloon has aggressive retail expansion plans and we will have the first right of refusal on these properties," Asher said.

Latest Reads
Zee Tamil strengthens its weekend programming

MUMBAI: Zee Tamil, the tamil general entertainment channel of ZEEL, recently announced its decision to spruce up its fiction bands for weekends.

Television TV Channels Regional
Times Television Network elevates Nivedita Oak to DGM

Times Television Network (TTN) has elevated Nivedita Oak to deputy general manager - influence. Earlier, Oak was the regional head for Zoom, FCT and branded content. She has been working with the Times Network for the last 11 years.

Television TV Channels People
History TV18 to release third film in ‘Special Operations India' series

History TV18, a pan-Indian television channel, is to create a documentary on counter-terrorist operation at Pathankot air base named Special Operations India: Pathankot. This one-hour documentary will be aired on June 25 at 9 pm.

Television TV Channels Factual & Documentary
CNBC-TV18 successfully concludes the 8th edition of the ‘India Healthcare and Wellness Awards 2018’

NBC-TV18, India’s leading English business news channel along with ICICI Lombard hosted the 8th edition of the ‘Indian Healthcare and Wellness Awards 2018’ at The Grand Hyatt, Mumbai.

Television TV Channels News Broadcasting
MN+ to air Indian Television premier of ‘Tulip Fever’

MN+, the Gold Class of Hollywood Movies from the Times Network, brings to the viewers, for the first time on Indian television, the celebrated romantic historical saga– ‘Tulip Fever’. The movie will premiere on Sunday, 24th June at 1 pm and 9pm on MN+.

Television TV Channels English Entertainment
Sony Music acquires the music rights for 2018’s much awaited sports drama film ‘SOORMA’

Global music giant, Sony Music has acquired the music rights for Soorma – the greatest comeback story of the hockey legend Sandeep Singh.

Television TV Channels Music and Youth
Epic and Rupa publications announce the umeed india book on the occasion of international olympic day

EPIC TV - India’s only Hindi language, Indian Infotainment channel celebrates International Olympic Day with an exclusive unveiling of the first look of the Umeed India book published by Rupa Publications and based on its popular series, of the same name hosted by ace cricketer Virender Sehwag.

Television TV Channels Factual & Documentary
Iconic series Blue Planet II set for Indian TV premiere on Sony BBC Earth after a successful theatrical run

All eyes on TV as India’s #1 factual entertainment channel, Sony BBC Earth, premieres the world-renowned, path breaking and breath-taking series Blue Planet II for the Indian audience on June 25th at 9 pm.

Television TV Channels News Broadcasting
FOX Life celebrates a perfect celebrity mismatch in Great Escape’s new season

He’s rugged, she’s delicate. He’s adventurous, and she is spiritual. They are two friends who, at a distance, might seem like polar opposites. But get closer and you are sure to be surprised. FOX Life, India’s favorite premium lifestyle channel,

Television TV Channels Factual & Documentary

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories