Connplex Cinemas, a multi-format cinema operator, made a strong debut on the NSE SME platform, with its shares listing at a premium of 10.20% over the initial public offering (IPO) price. The stock opened at Rs 195.00, compared to the issue price of Rs 177.00, reflecting robust investor interest in the company's growth prospects.

IPO Details and Subscription

The Rs 90.27 crore IPO of Connplex Cinemas garnered significant attention from various investor categories:

The public offering consisted entirely of a fresh issue of 51 lakh equity shares. Prior to the IPO, Connplex Cinemas successfully raised Rs 25.70 crore from anchor investors, further solidifying investor confidence in the company's potential.

About Connplex Cinemas

Connplex Cinemas operates a network of Smart Cinemas across India, offering three distinct formats to cater to diverse audience preferences:

1. Express
2. Signature
3. Luxuriance

The company generates revenue through multiple streams, including ticket sales, food and beverage offerings, and advertising.

Utilization of IPO Proceeds

The funds raised through the IPO are earmarked for several strategic initiatives:

• Purchase of a corporate office
• Acquisition of LED screens and projectors
• Meeting working capital requirements
• General corporate purposes

These investments are expected to support Connplex Cinemas' growth plans and enhance its operational capabilities in the competitive cinema industry.

The strong market debut and oversubscription of the IPO suggest that investors are optimistic about the growth potential of Connplex Cinemas in India's evolving entertainment landscape.

Connplex Cinemas, a smart cinema operator, has launched its Initial Public Offering (IPO) with a strong start, commanding an 18% grey market premium. The company aims to raise Rs 90.27 crore through this public issue, which opened for subscription today.

IPO Details

• Issue Size: 51 lakh equity shares
• Price Band: Rs 168 - Rs 177 per share
• Subscription Period: Closes on August 11
• Expected Listing: August 14 on NSE SME platform

Anchor Investment

Connplex Cinemas has already secured Rs 25.70 crore from anchor investors, demonstrating strong institutional interest in the company's growth prospects.

Financial Performance

The company has shown impressive financial growth:

This substantial increase in both revenue and profitability underscores the company's strong market position and operational efficiency.

Company Background

Founded in 2015, Connplex Cinemas operates Smart Cinemas with three distinct formats:

1. Express
2. Signature
3. Luxury

The company generates revenue through multiple streams:

• Movie screenings
• Food and beverages
• Advertising

IPO Proceeds Utilization

The funds raised from the IPO will be allocated towards:

• Purchase of corporate office
• Investment in LED screens and projectors
• Working capital requirements
• General corporate purposes

This strategic allocation of funds is expected to support the company's expansion plans and enhance its operational capabilities.

With its innovative cinema formats and strong financial performance, Connplex Cinemas' IPO has garnered significant attention in the grey market. Investors will be closely watching the subscription levels and the eventual listing performance of this emerging player in the entertainment industry.