Published on Wed, Oct 04, 2006 at 14:27 | Source : Moneycontrol.com
Updated at Wed, Oct 04, 2006 at 14:43
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Cinemax India files DRHP with Sebi for IPO
Cinemax India, one of the largest exhibition theatre chains in India operating 10 properties with 33 screens and 9,316 seats, has filed its draft red herring prospectus with the Securities and Exchange Board of India for its proposed initial public offering.
Cinemax India, one of the largest exhibition theatre chains in India operating 10 properties with 33 screens and 9,316 seats, has filed its draft red herring prospectus, DRHP with the Securities and Exchange Board of India, Sebi for its proposed initial public offering, IPO, as per press release.
Cinemax is part of the Kanakia Group, which has a track record of over 20 years in real estate development. The group has developed over 5 million sq ft of residential and commercial real estate.
For the year ended March 31, 2006, Cinemax clocked a total income of Rs 438.60 million on a standalone basis with a net profit of Rs 67.64 million.
Cinemax proposes to use the proceeds from the IPO primarily to meet the capital expenditure to be incurred for setting up screens across India. Apart from the expansion funding, the proceeds will be also be utilised for general corporate purposes including acquisitions.
Cinemax India is an emerging family entertainment centre focused primarily on exhibition and gaming business with limited interests in mall development. Cinemax is one of the largest exhibition theatre chains in India operating 10 properties with 33 screens and 9,316 seats and is the dominant player in Mumbai, which is home to the Hindi Film industry. Cinemax owns/ controls about 30 screens in Mumbai and Thane and is also one of the largest owners of multiplex properties in India with 23 screens spread over 155,000 sq ft area.
The 'Cinemax' brand is one of the most recognizable film exhibition brands. Over 1.4 million patrons in Q1FY07 and 3.67 million patrons in FY06 visited various Cinemax theatres.
Cinemax is currently, developing a mall at Nagpur with over 100,000 sq ft of area and 30,000 sq ft of area at Eternity mall, Thane (phase 2).
