One of India’s leading theatre chains, Cinemax India Limited, is coming out with an Initial Public Offering (IPO) with an issue of 8.92 mn shares of Rs. 10 each at a price band of Rs. 135 – Rs. 155 per share. The issue comprises a fresh issue of 7 mn shares and an offer for sale of 1.92 mn shares by existing shareholders. The net issue will constitute 31.86% of the fully diluted equity share capital of Cinemax India Limited.
The capital raised from the issue will be deployed to set up several theatres in various locations across India. As a part of their expansion plans, over the next two years, they propose to set up 19 theatres at identified key locations in which a total seating capacity of approximately 15,864 seats will be created.
Enam Financial Consultants Private Limited, JM Morgan Stanley Private Limited, Edelweiss Capital Limited and Ambit Corporate Finance Private Limited are the Book Running Lead Managers to the IPO. The shares will be listed on The Bombay Stock Exchange and The National Stock Exchange of India.
Read the press release here.
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