Here are the complete details for the Connplex Cinemas Limited IPO, based on the latest official and independent sources:
Founded: Incorporated in 2015 (renamed to Connplex Cinemas Limited in August 2024)
Operations: Franchises “Smart Cinemas” across India under formats like Express, Signature, Luxuriance. Generates revenue via tickets, food & beverages, advertising, and partnerships
Network (as of Sep 30, 2024): 22 cinemas, 55 screens, 4,266 seats across cities including Rajkot, Ahmedabad, Patna, Bhagalpur, Mehsana and more
IPO Dates
- Opening Date: August 7, 2025
- Closing Date: August 11, 2025
- Allotment Finalization: August 12, 2025
- Refund Initiation & Share Credit to Demat: August 13, 2025
- Listing Date: August 14, 2025
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹168 to ₹177 per share
- Lot Size: 800 shares
- Total Issue Size: Fresh issue of 51,00,000 equity shares (~₹90.27 crore)
- No Offer for Sale (OFS); fully fresh shares offered
- Issue Type: Bookbuilding IPO
- Listing At: NSE SME
- Share Holding Pre Issue: 1,40,00,000 shares
- Share Holding Post Issue: 1,91,00,000 shares
GMP of Connplex Cinemas Limited IPO
The Grey Market Premium (GMP) for Connplex Cinemas Limited IPO, which is the unofficial indicator of listing sentiment, is currently ₹0 (0%). This suggests that the IPO shares are trading at par with the upper price band in the grey market, indicating no expected listing gain as of now
Interpretation:
- GMP = ₹0: Grey market participants are not expecting a premium over the IPO price.
- Estimated Listing Price: Likely to match the IPO’s upper price band of ₹177/share if no last-minute changes occur.
Promoters of Connplex Cinemas Limited
Here are the promoters of Connplex Cinemas Limited, along with available background details:
Mr. Anish Tulshibhai Patel
- One of the two promoters of Connplex Cinemas Limited, as stated in the SEBI Draft Red Herring Prospectus (DRHP) filed in January 2025.
- Co‑founder and Director of the company, credited with contributing through finance and legal expertise that enabled rapid growth and structured expansion of the business.
- A leader in driving Connplex’s smart cinema model, he balances upscale cinematic offerings with cost-effective operations aimed at underserved Tier‑2/3 markets.
- Together with his co‑founder, he received the Times Business Awards 2025 in the Entertainment – Cinema Industry category, recognizing their innovation-led leadership.
Mr. Rahul Kamleshbhai Dhyani
- The second promoter of the company named in the DRHP.
- Co‑founder and Director of Connplex, Rahul’s main strength lies in marketing and architectural planning, which were instrumental in conceptualizing the Smart Theatre format and designing intimate, tech-driven cinemas.
- Together with Anish Patel, Rahul has expanded Connplex’s footprint across India, with over 60 cinema houses in several states and plans to add 200+ new screens across 15 states.
- He also shared the Times Business Awards 2025 with Anish Patel, highlighting their joint vision and leadership for Connplex’s innovation in cinema exhibition.
Promoters’ Role & Background Summary
| Name | Role & Expertise | Contribution Highlights |
|---|---|---|
| Anish Tulshibhai Patel | Co-founder, Director; finance & legal background | Structured growth, corporate governance |
| Rahul Kamleshbhai Dhyani | Co-founder, Director; marketing & architecture | Brand & design strategy for smart cinemas |
- Both Anish Patel and Rahul Dhyani have actively built Connplex from its origins (formerly VCS Industries Limited) into a fast-growing cinema chain using modular, tech-enabled mini‑theater formats.
- Their combined vision has grown the chain to over 230–250 screens across 6–7 states, with aggressive plans to expand into 15 states nationwide with more than 200 additional screens planned.
Connplex Cinemas Limited IPO Lot Size
Here’s the Connplex Cinemas Limited IPO Lot Size information, including a summary table based on verified sources:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,83,200 |
| Retail (Max) | 2 | 1,600 | ₹2,83,200 |
| S-HNI (Min) | 3 | 2,400 | ₹4,24,800 |
| S-HNI (Max) | 7 | 5,600 | ₹9,91,200 |
| B-HNI (Min) | 8 | 6,400 | ₹11,32,800 |
- The minimum trading lot size for the Connplex Cinemas Limited SME IPO is 800 equity shares per application.
- At the upper price band of ₹177/share, the minimum investment amounts to ₹141,600 (₹177 × 800).
- Business Standard and other IPO trackers consistently confirm Lot Size = 800 shares.
Connplex Cinemas Limited IPO Promoter Holding
Here’s the promoter shareholding in Connplex Cinemas Limited, both before and after the SME IPO, based on official IPO disclosures:
| Share Holding Pre Issue | 95.36% |
| Share Holding Post Issue | 69.90% |
About Connplex Cinemas Limited
Name & Origin: Connplex Cinemas Limited (formerly VCS Industries Limited), incorporated in 2015 and headquartered in Ahmedabad, Gujarat. It launched its flagship brand “Connplex Smart Cinemas” in 2021 to pioneer modular, boutique cinema experiences across India.
Connplex Cinemas Limited is a technology-forward film exhibition company evolving into a national boutique cinema chain through a fast-growing, franchise-led model.
With aggressive expansion plans, consistent financial growth, and strong industry recognition, it’s positioned to disrupt the traditional multiplex ecosystem—especially in tier‑II/III markets.
Business Model & Revenue Streams
- Core Activities: Develops, franchises, and operates cinema theatres across India, focusing on a modular, tech‑driven “smart cinema” format.
Revenue Sources Include:
- Ticket Sales from film screenings
- Food & Beverage Sales within theatres
- Advertising Revenue (both on‑screen and off‑screen)
- Franchise & Revenue‑sharing Fees from partner operators
Market Strategy & Positioning
- Focused on Tier 2/3/4 cities and underserved markets where large multiplexes are absent.
- Delivers a cost-effective yet upscale cinema experience, leveraging smaller footprints and streamlined operations.
- Differentiator: Rapid theatre rollout (90–120 days), fast ROI (18–24 months), and full operational support (legal, licensing, marketing, HR, F&B) to franchise partners.
Scale & Expansion Strategy
- Current scale: Over 230 screens operational or under development across 6–7 states, including over 33 cinemas in Gujarat and more than 60 cinema houses nationally.
- Future target: Expand into up to 15 states, launching 200+ additional screens in the coming years.
- Recognized as Gujarat’s first national cinema chain (NCC).
Connplex Cinemas Limited Financial Information
Here’s a detailed and accurate breakdown of Connplex Cinemas Limited financial performance, based on its DRHP and leading broker reports:
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹61.12 Crore | ₹36.40 Crore | ₹27.96 Crore |
| Total Income | ₹96.78 Crore | ₹60.83 Crore | ₹25.61 Crore |
| Profit After Tax | ₹19.01 Crore | ₹4.09 Crore | ₹1.65 Crore |
| EBITDA | ₹26.28 Crore | ₹6.19 Crore | ₹2.63 Crore |
| Net Worth | ₹24.44 Crore | ₹5.43 Crore | ₹1.34 Crore |
| Reserves and Surplus | ₹10.44 Crore | ₹4.93 Crore | ₹0.84 Crore |
| Total Borrowing | ₹0.72 Crore | ₹0.27 Crore | ₹0.32 Crore |
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 127.28% |
| ROCE | 98.25% |
| Debt/Equity | 0.03 |
| RoNW | 77.78% |
| PAT Margin | 19.88% |
| EBITDA Margin | 27.48% |
| Price to Book Value | 45.62 |
Strengths of Connplex Cinemas Limited IPO
- Rapid expansion with over 230 screens, targeting 200+ more across 15 states.
- Unique “smart cinema” franchise model with fast ROI and low setup cost.
- Strong financial growth with high ROE (~127%) and low debt.
- Presence in Tier 2–4 cities where competition is limited.
- Received Times Business Awards 2025 for innovation in cinema.
Risks of Connplex Cinemas Limited IPO
- Heavily dependent on audience footfall and film content success.
- Operates in a highly competitive and entertainment-sensitive market.
- Technology and equipment failure could disrupt operations.
- Aggressive expansion could lead to execution and quality control risks.
- Regulatory/licensing changes in cinema operations could impact profitability.
Connplex Cinemas Limited Contact Details
Here are the official contact details for Connplex Cinemas Limited, as listed on their corporate site and official filings:
Corporate Office (via Connplex Theaters website)
- Entity: VCS Industries Limited (holding company of Connplex)
- Address: 703, Titanium One, Near Rajpath Club, SG Highway, Ahmedabad – 380054, Gujarat, India
- Mobile: +91‑99245 77556 | +91‑99245 77550
- Email: info@theconnplex.com
Registered / Legal Address
- Connplex Cinemas Limited
Block C‑1001, Krish Cubical, Opp. Avalon Hotel, Near Govardhan Party Plot, Thaltej, Ahmedabad, Daskroi, Gujarat – 380059, India
Rajkot Branch
- Connplex Cinemas: Rajkot
2nd Ring Road, Serenity Garden Road, near Valupaani Restaurant, Rajkot – 360004, Gujarat, India
Ahmedabad – Shilaj Branch
- Connplex Cinemas: Shilaj
2nd Floor, Shilp The Address, Shilaj Road, SP Ring Road, Thaltej, Ahmedabad – 380059, Gujarat, India
Summary Table
| Contact Type | Details |
|---|---|
| Corporate Office | VCS Industries Ltd., Titanium One, SG Highway, Ahmedabad – 380054 |
| Mobile Numbers | +91‑99245 77556, +91‑99245 77550 |
| General Email | info@theconnplex.com |
| Registered Address | Block C‑1001, Krish Cubical, Near Avalon Hotel, Thaltej, Ahmedabad |
| Rajkot Theatre | Serenity Garden Road, near Valupaani Restaurant, Rajkot – 360004 |
| Ahmedabad (Shilaj) | 2nd Floor, Shilp The Address, SP Ring Road, Ahmedabad – 380059 |
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