India-based entertainment firm Connplex Cinemas, headquartered in Gujarat, has secured in-principle approval from NSE Emerge for its SME IPO. The public issue will comprise a fresh issue of up to 51 lakh equity shares with no offer-for-sale (OFS) component. While the total IPO size has not been disclosed, the company has outlined plans to allocate proceeds for capital expenditure, LED screens and projectors, working capital, and general corporate purposes.
Connplex Cinemas, an integrated entertainment company headquartered in Gujarat, India, received in-principle approval from NSE Emerge on June 11, 2025, for the launch of its SME initial public offering (IPO). The approval follows the company’s submission of its Draft Red Herring Prospectus (DRHP) in January 2025.
Connplex Cinemas is involved in developing and operating luxury cinemas, entering into franchise agreements, and managing film exhibition and distribution. The company also earns revenue through food and beverages and screen advertisements. Known for its plush recliner seating, immersive sound systems, and HD projection, Connplex is expanding its presence across India’s cinema industry.
The proposed IPO will include a fresh issue of up to 51 lakh equity shares, each having a face value of ₹10. Notably, the public issue does not include any offer-for-sale (OFS) component, and the total IPO size is yet to be officially disclosed.
As per the DRHP, Connplex Cinemas plans to utilize the funds raised from the IPO as follows:
- ₹14.79 crore towards the purchase of a new corporate office
- ₹24.44 crore for the procurement of LED screens and projectors
- ₹37.63 crore for working capital needs
- Remaining funds for general corporate and public issue expenses
Shares of Connplex Cinemas will be listed on the NSE Emerge platform.
Beeline Capital Advisors is serving as the Book-Running Lead Manager for the issue, while MUFG Intime India is the IPO registrar.
The company is promoted by Anish Tulshibhai Patel and Rahul Kamleshbhai Dhyani, who currently hold a 100% stake in the firm. In the quarter ending September 30, 2024, Connplex Cinemas reported:
- Revenue: ₹40.69 crore
- Net Profit: ₹9.60 crore
- EBITDA: ₹6.19 crore
With its strategic expansion and strong financials, Connplex Cinemas’ IPO is expected to draw interest from retail and institutional investors alike.
