Connplex Cinemas, a Gujarat-based entertainment company, has received in-principle approval from NSE Emerge to launch its Small and Medium Enterprises (SME) initial public offering (IPO).
The company had filed its Draft Red Herring Prospectus (DRHP) with the exchange in January 2025. The SME platform of the National Stock Exchange, NSE Emerge, granted approval for Connplex Cinemas IPO DRHP on June 11.
Connplex Cinemas IPO is an SME IPO which will consist of a fresh issue of up to 51 lakh equity shares of face value of ₹10 per share. The public issue does not comprise any offer-for-sale (OFS) component, and the total IPO size has not been disclosed.
The company aims to utilise the IPO proceeds for growth initiatives. It plans to use ₹14.79 crore to fund its capital expenditure requirement for the purchase of a corporate office and use ₹24.44 crore to fund the purchase of LED screens and projectors.
Moreover, ₹37.63 crore will be used to fund its working capital requirement and the remaining funds from the public issue will be used in general corporate expenses and public issue expenses, according to the Connplex Cinemas IPO DRHP.
Connplex Cinemas shares will be listed on NSE Emerge.
Beeline Capital Advisors is the Book-Running Lead Manager of the Connplex Cinemas IPO, while MUFG Intime India will serve as the IPO registrar.
Connplex Cinemas is a Gujarat-based company involved in developing theatres, entering franchise agreements, film exhibitions and distribution, and generating revenue from food, beverages, and advertisements.
It constructs and designs theatres featuring luxurious recliner seating, advanced sound systems, and high-definition projection technology to provide an elevated movie-going experience.
Anish Tulshibhai Patel and Rahul Kamleshbhai Dhyani are the promoters of the company. The promoters hold a 100% stake in the company.
Connplex Cinemas 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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