Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

INOX starts 2021 with addition of 11 new screens, takes the total to 637

INOX Leisure has opened three new multiplexes - two new properties in Gurugram and one in Salem, Tamil Nadu.

January 13, 2021 / 09:26 PM IST
INOX launches new four-screen multiplex in Ardee Mall, Gurugram. Photo: INOX

INOX launches new four-screen multiplex in Ardee Mall, Gurugram. Photo: INOX

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

One of the major players in the exhibition industry, INOX Leisure launched three new multiplexes on January 13.

The multiplex chain has launched two new properties in Gurugram and one in Salem, Tamil Nadu.

The new INOX multiplex at Ardee Mall in Gurugram has four Insignia screens, with a total of 120 recliner seats.

Another property in Gurugram at Sapphire 90 Mall has four screens with 752 seats. With the launch of two new multiplexes, INOX now has 14 multiplexes with 50 screens in the National Capital Region.

Along with new properties, the national multiplex chain has added a new city to its portfolio.

Close

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

INOX has launched a three-screen multiplex with a capacity of 801 seats in Reliance Mall, Salem, Tamil Nadu. With this launch, INOX now operates 34 screens across six properties in Tamil Nadu.

Overall, INOX has added 11 new screens in 2021 so far and has taken the overall screen total to 637 and the number of multiplexes to 150.

Alok Tandon, Chief Executive Officer, INOX Leisure, said that after the difficult phase, it is time to get back to normal buoyancy and that the launch of 11 new screens shows their commitment to expansion plans.

The exhibition sector has been one of the hardest hit due to the coronavirus pandemic. While there were fewer screen additions last year, many single screens shut down permanently.

Even major multiplex players added a few screens in 2020.

Analysts estimate permanent closure of 1,000 to 1,500 screens in 2020 which will take the overall screen count down to around 8,527 from 9,527 screens in 2019.

According to them, this is the sharpest drop as in the last five to seven years the number of screens has not come down by more than 200-250.

Also, it will be south market that will see major impact as out of the 1,000-1,500 screens, almost 53 percent closures will be in south, expect analysts. And this will impact the business of regional films as 60-65 percent of box office collections for a regional films come from single-screen theatres.

While the situation still remains tough for exhibitors who are still struggling because of the dearth of content, multiplex players have started adding new screens which is a good sign for the exhibition business.
Maryam Farooqui
first published: Jan 13, 2021 08:28 pm

stay updated

Get Daily News on your Browser
Sections