Gujarat-based Connplex Cinemas, which operates cinema chain mostly in Tier 2, 3 and 4 cities, is set to hit Dalal Street with its maiden public issue on August 7, with price band of Rs 168-177 per share.
The company plans to raise Rs 90.27 crore via public issue of 51 lakh shares at the upper price band. The IPO consists of solely fresh issue.
The public issue will close on August 11, while the anchor book will be launched only for institutional investors on August 6. The company will finalise IPO share allotment by August 12, and the trading in Connplex shares will commence on the NSE Emerge, effective August 14.
With 66 screens, Connplex that competes with PVR Inox operates most of its business in Gujarat and Bihar, followed by few screens in Maharashtra, Chhattisgarh, and Telangana, through franchisee model.
Of which, 63 screens are operated through FOFO model (franchise owned, franchise operated) and the remainder 3 via FOCO model (franchise owned, company operated).
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The company intends to utilise Rs 14.79 crore of the fresh issue proceeds for purchase of corporate office, and Rs 24.4 crore for purchase of LED screens and projectors. Further, Rs 37.6 crore will be used for working capital requirement, and the remainder funds for general corporate purposes.
Connplex Cinemas has recorded healthy financial numbers in the past years with profit in FY25 growing nearly 5-fold to Rs 19 crore compared to Rs 4.1 crore in the previous year. Revenue in the same period increased by 58.6 percent to Rs 95.6 crore, up from Rs 60.3 crore.
Beeline Capital Advisors is acting as the sole book running lead manager for the Connplex Cinemas IPO.
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