Connplex Cinemas, an entertainment company, has received approval for its Draft Red Herring Prospectus from NSE Emerge, the regulator for SME IPOs.
The company plans to issue up to 51 lakh fresh equity shares in the upcoming IPO. The IPO proceeds are intended to fund capital expenditures for the purchase of a corporate office, acquisition of LED screens and projectors, and meeting working capital requirements, in addition to general corporate purposes.
Beeline Capital Advisors has been appointed as the Book-Running Lead Manager for the issue, while MUFG Intime India will serve as the Registrar.
The company specialises in developing cinema set-ups, entering franchise agreements, film exhibitions and distribution, and generating revenue from food, beverages, and advertisements.
By strategically expanding into underserved markets in smaller cities and metro locations, the company blends convenience, affordability and premium experiences to bring high-quality entertainment to audiences across India.