Page 6 - Inox

A day before IPO, Inox Green mobilises Rs 333 crore from anchor investors

Inox Green Energy Services, a subsidiary of Inox Wind, has collected Rs 333 crore from anchor investors. The funds were raised a day before its initial share-sale that opened for public subscription on Friday. The issue will conclude on November 15. The company has decided to allocate 5.12 crore shares to anchor investors at Rs 65 apiece aggregating the transaction size to Rs 333 crore, according to a circular uploaded on the BSE website late night on Thursday. Morgan Stanley Asia (Singapore) Pte, Nomura Singapore Ltd, Citigroup Global Markets Mauritius Private Limited, HDFC Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF are among the anchor investors. The Rs 740-crore initial public offering (IPO) of Inox Green comprises a fresh issue and an offer for sale of Rs 370 crore each. The company has fixed a price band of Rs 61-65 per share for its IPO. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Inox Green is engaged

India's top multiplex chains bank on festive season to bring cheer back

A slate of flop Bollywood movies have hit India's top cinemas hard, leaving the industry to bank heavily on the current festive quarter to revive its fortunes

Inox Leisure Q2 net loss narrows to Rs 40 cr, revenue rises multi-fold

Multiplex chain operator Inox Leisure Ltd on Wednesday reported a narrowing of its consolidated net loss to Rs 40.37 crore for the second quarter that ended on September 30, 2022, helped by rising footfalls at cinema halls. The company had posted a net loss of Rs 87.66 crore in the July-September period a year ago, said Inox Leisure in a BSE filing. Its revenue from operations during the quarter under review was at Rs 374.12 crore, up multi-fold in comparison to the low base of the corresponding quarter of the previous year when the cine exhibition industry was impacted due to the second wave of the COVID-19 pandemic. Inox Leisure's revenue from operations in the July-September quarter of the last fiscal stood at Rs 47.44 crore. Total expenses were at Rs 434.24 crore, up two-fold. During the July-September quarter, 11.6 million guests visited Inox cinemas and reported "ATP (Average Ticket Price) of Rs 215 and the highest ever quarterly SPH (Spending Per Head) at Rs 102". This wa

T20 WC: INOX signs deal with ICC to live screen India matches in cinemas

Leading multiplex chain INOX Leisure Ltd will live screen all matches to be played by India at the upcoming ICC Men's T20 World Cup 2022 in its cinema halls across the country. It has signed an agreement with the International Cricket Council (ICC) in this regard, INOX Leisure said in a statement. INOX will showcase all group matches to be played by Team India, starting with their first match on October 23 against Pakistan, followed by the semi-finals and the final match. "The live matches will be screened across INOX multiplexes in more than 25 cities," it said. The eighth edition of the ICC Men's T20 World Cup commences from October 16, with the Super 12 stage kicking off on October 22. The final is scheduled on November 13 in Melbourne. INOX Leisure Chief Operating Officer Anand Vishal said, "By screening cricket in cinemas, we are bringing together the thrill of the giant screen experience and thunderous sound with the most loved sport in our country, that is cricket. The ...

Inox Green Energy Services sells entire stake in 3 arms to Adani Energy

Inox Wind on Monday said its arm Inox Green Energy Services has sold its entire equity stake in three special purpose vehicles to Adani Green Energy. "Inox Wind... through its subsidiary arm, Inox Green Energy Services Ltd (IGESL) has sold the entire equity shareholding held in Wind One Renergy Ltd, Wind Three Renergy Ltd and Wind Five Renergy Ltd... to Adani Green Energy Ltd," it said in a BSE filing. These special purpose vehicles (SPVs) "commissioned 50 MW each, out of the total 250 MW which it had successfully won under the Tranche 1 of Solar Energy Corporation of India Ltd's (SECI -1) bids for wind power projects at Dayapar, Gujarat connected on the central grid...," it added. IGESL shall provide long-term operations and maintenance services for these projects. Inox Wind through its SPVs had supplied, erected and commissioned 25 units of its advanced 2 MW Wind Turbine Generators (WTGs) as part of 50 MW project each. Inox Wind had won 250 MW in SECI Tranche 1 auction at a fixe

PVR to invest Rs 350 cr in 100 new screens; expects Inox merger by Feb 2023

Film exhibition company PVR Cinemas will invest up to Rs 350 crore to open 100 new screens in FY23, a top official said on Monday. It also expects its mega-merger with Inox Leisure to close by February 2023, after which it will start to run as a combined business, PVR's chief executive Gautam Dutta told PTI over the phone. Pointing to the company's performance in the April-June quarter, he said patrons are coming back to halls to enjoy the cinema experience and the food and beverage sales are also up, which makes it more optimistic about expansion. "We will invest up to Rs 350 crore to open 100 screens in FY23. I see the same trend continuing in the next 2-3 years as well," Dutta said, stressing that the expansion will be a balanced one across geographies. About 60 per cent of the new screens will be in cities where the company already has a presence, while the rest will be in newer ones, he added. Locations, where it intends to expand, include Rourkela, Dehradun, Vapi, Chennai, .

Movie buffs celebrate silver screen's return to Kashmir after 3 decades

The inauguration was followed by a screening of the Aamir Khan-starrer Laal Singh Chadhha, viewed by an audience that included media persons, officials, guests and local residents.

Kashmir's first multiplex screens Lal Singh Chaddha on opening day

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Tuesday inaugurated the valley's first multiplex in Sonawar area of the city, ending the three-decade wait of the movie buffs to watch their favourite stars on the big screen. "Inaugurated INOX multiplex theatre in Srinagar. Congratulations to the people, Sh. Vijay Dhar & INOX Group. A major socio-economic revolution is sweeping through J&K in the last 3 years, Sinha tweeted soon after inaugurating the multiplex. He said, It is a reflection of a new dawn of hope, dreams, confidence and aspirations of people." The mulitplex management held a special screening of Aamir Khan-starrer 'Lal Singh Chaddha' after the inauguration ceremony. The regular shows will start from September 30 with the screening of Vikram Vedha, starring Hrithik Roshan and Saif Ali Khan. The first multiplex in Kashmir will have three movie theatres with a total capacity of 520 seats. The premises will also have a food court aimed at promoting the local ...

Shares of PVR, INOX Leisure defy broader market trend; settle with gains

Shares of multiplex chains PVR and INOX Leisure defied the broader market trend and settled in the positive territory on Wednesday after the Competition Commission rejected the complaint against proposed PVR-INOX deal. The rise in shares came a day after the Competition Commission of India (CCI) rejected a complaint against the proposed merger of PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe. Shares of PVR opened on a bullish note at Rs 1,891.10 and hovered in the range of Rs 1,886.75 to Rs 1,974.75 during the trading session on BSE. It finally closed at Rs 1,929.45, up 0.99 per cent over its last close. On NSE, it opened at Rs 1,905 and settled at Rs 1,927.00, registering a rise of 0.94 per cent over its Tuesday's closing level. A similar trend was seen on the INOX Leisure counter as well, where the stock opened at Rs 511 and oscillated between Rs 511.00 and Rs 550.40 during the trading session on ..

Stocks to Watch: Infosys, Bharat Forge, JSW Steel, IRCTC, Ambuja Cements

Stocks to Watch: JSW Steel has signed a memorandum of understanding (MoU) with SMS group, a German engineering and technology company, for exploring decarbonisation projects

CCI rejects complaint against proposed merger of multiplex chains PVR, INOX

The Competition Commission of India (CCI) on Tuesday rejected a complaint against the proposed merger of multiplex chains PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe. The watchdog's order has come on a complaint filed against the proposed merger that would create the country's largest multiplex chain with a network of more than 1,500 screens. On March 27, PVR and INOX Leisure announced the merger. However, the entities were not required to seek CCI approval for the deal as it was below the regulator's threshold levels. Under the competition law, deals beyond certain thresholds require clearance from the regulator. In a seven-page order, the regulator said it was of the view that apprehension of likelihood of AAEC (Appreciable Adverse Effect on Competition) by an entity which is yet to take form cannot be a subject matter of inquiry/investigation under Section 3 or 4 of the Competition Act. Section

PVR shareholders to mull Inox merger on Oct 11, creditors' meet same day

Investors' meet over videoconference comes after Mumbai NCLT's directive to PVR; both Inox Leisure and PVR had said this June that they had received clearances for their merger NSE and BSE

PVR shareholders, creditors to meet on October 11 to consider INOX merger

Multiplex operator PVR has called a meeting of its shareholders and creditors on October 11 to seek their approval for the scheme of merger with rival Inox Leisure. This comes after the Mumbai bench of the National Company Law Tribunal (NCLT) on August 22 directed PVR to call a meeting. "We wish to inform you that pursuant to the order pronounced on August 22, 2022 and received on September 5, 2022, meetings of equity shareholders will be held through video conferencing or other audio visual means on Tuesday, October 11, 2022, at 11:30 AM," PVR informed exchanges on Thursday. The meeting of secured creditors of the company will be held physically at PVR's registered office in Mumbai on the same day at 3 PM, it added. In June this year, both PVR and Inox Leisure had said they had received clearances for their merger from bourses NSE and BSE. However, last month non-profit group CUTS filed a complaint against the proposed merger before fair trade regulator CCI, alleging that the dea

Movie tickets at just Rs 75: India to observe National Cinema Day on Sep 16

Various companies like PVR, INOX, Cinepolis, Carnival, Miraj, Citypride, Asia, Mukta A2, Movie Time, Wave, M2K, and Delite have agreed to be a part of the celebrations

Come September, cinema returns to Kashmir after 32 years of intermission

INOX to open a three-screen multiplex in Srinagar, its first

Multiplexes to post strong revenue growth in Q1, broadcasters to be muted

Q1 marks a full quarter of operations post pandemic for cinemas. This will reflect in financials of these firms, with likely revenue growth at 65-70% for PVR and Inox sequentially

PVR, Inox get SEBI nod for merger to create India's largest multiplex chain

PVR promoters will have a 10.62% in the combined entity; Inox's side will have a 16.66%

A merger wave in media

A mix of history, the pandemic and its cascading effects are among the reasons for this action

Box office hits record Rs 1,500 cr in March; April likely to be as good

Based on the trends in March and April, Gianchandani said the industry expected FY23 to be the best year for it 'ever' with overall revenues expected to hit Rs 14,500-Rs 15,500 crore

Uptick in movie biz prompts exhibitors to increase screen count in FY23

PVR, Inox and Cinepolis adding 125, 77 and 60 screens, respectively, in FY23