Connplex Cinemas IPO to open on August 7; check price band, issue size & more

Gujarat-based Connplex Cinemas is set to debut on Dalal Street with its first public issue on 7 August 2025. The IPO will close on 11 August 2025, featuring a price band of Rs 168-177 per share with a lot size of 800 shares. The public issue comprises 51 lakh shares, entirely a fresh issue, aiming to raise Rs 90.27 crore at the upper price band.

The shares will be listed on the NSE Emerge from 14 August 2025. Beeline Capital Advisors is the lead manager, with MUFG Intime India serving as the registrar. The market maker, Spread X Securities, has been allocated with 2,56,000 shares worth Rs 4.53 crore for this IPO.

Retail investors can apply for a minimum of two lots or 1,600 equity shares worth Rs 2,83,200. Small HNI investors can apply for a minimum of 3 lots or 2,400 equity shares worth Rs 4,24,800, while their maximum bid stands at 7 lots or 5,600 equity shares worth Rs 9,91,200. Big HNIs need to apply for a minimum of 8 lots, or 6,400 equity shares, worth Rs 11,32,800.

Connplex Cinemas intends to utilise the funds raised to enhance its infrastructure and operations. Approximately Rs 14.79 crore will be allocated for purchasing a corporate office, while Rs 24.4 crore is earmarked for acquiring LED screens and projectors. Additionally, Rs 37.6 crore is designated for working capital requirements, with remaining funds directed towards general corporate purposes.

The company, primarily operating in Tier 2, 3, and 4 cities across Gujarat, Bihar, and other regions, boasts 66 screens. Connplex competes with larger cinema chains like PVR Inox. Among its screens, 63 are managed under a franchise-owned, franchise-operated (FOFO) model, while three operate under a franchise-owned, company-operated (FOCO) model.

For the financial year ending 31 March 2025, Connplex Cinemas saw its profit rise nearly five fold to Rs 19 crore, compared to Rs 4.1 crore the previous year. Revenue during the same period increased by 58.6% to Rs 95.6 crore from Rs 60.3 crore. The company will have a market capitalisation of approximately Rs 338 crore at the current valuation.

Key dates to note include the IPO open date of 7 August 2025, close date of 11 August 2025, basis of allotment on 12 August 2025, initiation of refunds, and the credit of shares to demat accounts, culminating in the listing on 14 August 2025.