Upcoming IPO: Connplex Cinemas files DRHP at NSE for SME IPO. Details here | Stock Market News
Source: Live Mint
Connplex Cinemas Limited is a Gujarat-based entertainment company which has filed its draft red herring prospectus (DRHP) with the markets regulator, the Securities and Exchange Board of India (SEBI), on Monday, January 20.
The company is involved in developing theatres, entering franchise agreements, film exhibitions and distribution, and generating revenue from food, beverages, and advertisements, according to the official press release.
Connplex Cinemas IPO Details
Connplex Cinemas, through a book-built issue, aims to raise money from the Indian stock market from a fresh issuance of 51 lakh equity shares with a face value of ₹10 per share. The offer document does not comprise any offer-for-sale (OFS) component, and the total amount of the issue is undisclosed in the regulatory filing.
The company’s promoters are Anish Tulshibhai Patel and Rahul Kamleshbhai Dhyani.
The company aims to use ₹14.79 crore to fund its capital expenditure requirement for the purchase of a corporate office. They also announced that the company will use ₹24.44 crore to fund the purchase of LED screens and projectors.
Connplex Cinemas also will use ₹37.63 crore to fund its working capital needs and the remaining funds from the public issue will be used in general corporate expenses and public issue expenses, according to the DRHP.
Beeline Capital Advisors Pvt. Ltd is the book-running lead manager for the public issue, while MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited) is the registrar to the offer.
About Connplex Cinemas
Connplex Cinemas constructs and designs theatres featuring luxurious recliner seating, advanced sound systems, and high-definition projection technology to provide an elevated movie-going experience, according to the press release.
According to company data, the firm reported a revenue of ₹40.69 crore in the quarter ended September 30, 2024, with the net profit for the period at ₹9.60 crore and the EBITDA at ₹6.19 crore.
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