Page 4 - Inox

IPO Wrap: Inox subscribed 61x, Muthoot Microfin is off to a good start

Public issuance of RBZ Jewellers, Happy Forging, and Credo Brands will be open for subscription tomorrow

Inox India secures Rs 438 crore from anchor investors ahead of IPO

Cryogenic tank maker Inox India Ltd on Wednesday collected Rs 438 crore from anchor investors, a day before its initial public offering (IPO). The company has allotted 66.33 lakh equity shares to 41 funds at Rs 660 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website. The investors participated in the anchor book include Abu Dhabi Investment Authority, Nomura, Goldman Sachs, ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Axis MF, Aditya Birla Sun Life MF and Tata MF. The maiden public issue, with a price band of Rs 627 to Rs 660 per share, will open for subscription on December 14 and conclude on December 18. The Rs 1,459-crore initial share sale of Inox Group entity's InoxCVA is entirely an offer for the sale of 2.21 crore shares by its existing shareholders and promoters. Since the issue is completely an OFS, the Vadodara-based company will not receive any

Inox Wind Energy infuses Rs 800 cr in arm, firm to use money to clear debt

Inox Wind Energy Ltd (IWEL) on Monday said it has infused Rs 800 crore into Inox Wind Limited (IWL) and the subsidiary company will utilise the amount to clear a portion of its outstanding debt. IWEL had earlier raised Rs 800 crore through sale of equity shares of Inox Wind through block deals on the stock exchanges. "Inox Wind Energy Limited completes infusion of Rs 800 crore into Inox Wind Ltd. The funds received will be utilized to repay IWL's existing debt," IWEL in a regulatory filing on Monday. "For this cash consideration of Rs 800 crore, Inox Wind has allotted 0.01 per cent non convertible redeemable preference shares (NCRPS) of Rs 10 each to IWEL," a separate statement said. Kailash Tarachandani, the CEO of Inox Wind said the recent round of fundraising by IWL's promoter and the subsequent capital infusion into IWL is a significant step towards the company's aim of becoming a net-debt free company. INOXGFL Group is operating across two key verticals -- chemicals and renew

PVR Inox Q2FY24 result: Profit at Rs 166 cr; revenue rises to Rs 1,999 cr

The total income for Q2FY24 came in at Rs 2,023.7 crore, compared to Rs 702.4 crore year-on-year, registering a rise of 188.11 per cent

PVR INOX Passport: How to avail PVR INOX Passport subscription?

PVR INOX has launched a subscription plan for all the cinemagoers who love to watch movies in the theatre. Here's the complete update about the plan, and how to avail PVR INOX Passport Subscription

Inox Air to invest Rs 500 cr on gas purification facilities for chip fabs

Fifty different and extremely pure gases are required for fabricating chips, of which only eight are available in raw form in India

Moviegoers are back

Filmmakers will have to invest in understanding the changing tastes of moviegoers, in multiplexes and single screens, in order to improve their chances of success

PVR Inox gains good box office collection of Gadar 2, Jailer and OMG 2

Shares of PVR have improved around 30% from its close at Rs 1,373 on August 30, 2023. Its benefits hyped to Rs 1,753.50 on Friday due to multiple blockbuster releases like Gadar 2, Jailer and OMG 2

Film-makers moving towards IMAX, Jawan will pave way for more: Aamer Bijli

PVR Inox is counting on IMAX to grow its business and encourage filmmakers

Back to the theatre: PVR Inox made over Rs 100 cr this blockbuster weekend

Between August 11 and 13, the number of viewers in various PVR Inox cinemas crossed 3.36 million. This highest-ever weekend viewership helped the company earn gross revenue of over Rs 100 crore

PVR Inox gains 3% on highest-ever weekend footfalls, box-office collection

The company welcomed around 3.36 million guests at its cinemas and earned gross box office revenue of around Rs 100 crore in the Aug 11 - 13 weekend.

Jailer Box Office Collection Day 1: Rajinikanth movie breaks many records

Rajinikanth-starrer Jailer shattered many records and earned more than 50 crore gross across the country. The movie marks the comeback of Rajinikanth after two years on the big screen

NCLAT set aside CUTS' petition seeking CCI probe in PVR INOX merger

The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a plea seeking an investigation by the fair trade regulator CCI over the merger of two leading multiplex operators PVR and INOX. NCLAT rejected the petition by Consumer Unity & Trust Society (CUTS) observing that the fair trade regulator has rightly observed that even if the merger is concluded, their dominance in the film exhibition industry per se is not anti-competitive. CUTS had challenged an order by the Competition Commission of India which rejected its plea on September 13, 2022, for seeking an investigation into the merger. However, during the pendency of the appeal the Mumbai bench of the National Company Law Tribunal (NCLT), approved the merger on February 16, 2023, sanctioned the scheme of merger by absorption of the Inox with PVR. In its petition CUTS said transaction is exempted from the notification requirement under Section 5 of the Competition Act as it qualifies for the de minimus ...

PVR INOX launches standalone IMAX property at iconic Priya Cinema

Multiplex chain PVR INOX on Thursday announced that they have converted Priya Cinema, one of the first theatres they opened in the national capital, into a state-of-the-art standalone IMAX theatre. The property at Basant Lok Complex, Vasant Vihar, will feature a next generation laser projection and multi-channel sound system exclusive to IMAX theatres for a truly immersive experience. Ajay Bijli, Managing Director, PVR INOX Limited, said upgrading their landmark cinema hall was a proud moment for the company. "It was the first cinema that we started here in Vasant Vihar and it has gone through a lot of changes. But this particular format is the best in its class. It makes a big movies even bigger and it is extremely immersive. We have been committing ourselves for the past 33 years that how do we make the experience absolutely amazing and at the same time do justice to people who make content," Bijli said at the event here. Actor Ayushmann Khurrana, who was also present at the even

PVR Inox Q1FY24 results: Net loss at Rs 80.1 crore; revenue up 31%

The total income for Q1FY24 came in at Rs 1290.1 crore, compared to Rs 983.5 crore YoY

Sensex drops 224 pts in fag-end, Nifty below 19,400; Delta Corp sinks 23%

CLOSING BELL ON JULY 12, 2023: Shares of online gaming firms wilted under selling pressure on Wednesday owing to the 28% GST levy. Meanwhile, HDFC signed-off its from the bourses with a 0.6% loss.

We will bounce back, it is a matter of two quarters: PVR Inox's Ajay Bijli

PVR Inox made Rs 3,869 crore in revenues last financial year, and owns 1,689 screens in 115 cities

PVR-INOX plans to shut down around 50 cinema screens over next 6 months

Leading cinema exhibitor PVR INOX plans to close around 50 loss-making screens, having an accelerated depreciation. "The company plans to shut down approximately 50 cinema screens over the next 6 months," said PVR INOX in its investor's update for the fourth quarter and financial year ending of March 31, 2023. These properties are loss-making, or housed in malls which have reached the end of their life cycle with little hope of any revival. "The company has taken an accelerated charge of the depreciation in its books and written off the WDV of assets," it said. PVR-INOX Ltd has been created after the merger of two leading cinema brands PVR Ltd and INOX Leisure. The merger was effective from February 6, 2023. The merged entity is operating 361 cinemas with 1,689 screens across 115 cities by the end of FY23 in India and Sri Lanka. Karan Taurani SVP of Elara Capital said: "There will be Rs 100 million of EBITDA impact (savings) by closing down of 50 screens. Most of these screens a

INOX invests in Tata Steel's Dhenkanal plant to set up air separation units

INOX Air Products will invest Rs 1,300 crore to set up two air separation units having capacity of 1,800 tonnes a day each at Tata Steel's plant in Dhenkanal, Odisha, company's Managing Director Siddharth Jain said. The plant is being set up as part of a partnership with the steel major for supplying industrial gases like oxygen, nitrogen and argon -- which are used in the steel making process, the company executive told PTI during an interaction. The air separation units (ASUs) will be the single-largest greenfield investment ever made by INOX Air Products and will support Tata Steel's ongoing steel capacity expansion. The units will separate these gases from the air and supply it to the steel plant, Jain said, adding that the project is expected to be commissioned by March, 2025. When asked about the details of the partnership, he said his company has signed an agreement with Tata Steel for 20 years to supply oxygen, nitrogen and argon, and Rs 1,300 crore will be invested to set

Ahead of Suzume release, PVR says strong signals to grow anime genre

'Anime film series have been a huge success in many parts of the world'