Connplex Cinemas IPO: Price, GMP, Analysis, And Details

Connplex Cinemas IPO- Company Analysis 

Connplex Cinemas IPO under the SME IPO category is a bookbuilding issue of Rs. 90.27 Cr by Connplex Cinemas Ltd, which was incorporated in 2015, and operates "Smart Cinemas" all around the country, offering a first-rate cinematic experience with cutting-edge technology, cozy seating, and an emphasis on Indian tastes. 

Under the "CONNPLEX" and other registered names, the company builds theaters and enters into franchise agreements for the distribution and display of films. It also shares the profits from food and beverage sales, screenings, and advertising at different franchised theaters.

Because of the on-screen and off-screen advertising available at their location, marketers may interact with viewers directly.

Model of Business:

Express, Signature, and Luxuriance are all made to combine immersive experiences with state-of-the-art technology to satisfy a wide range of audience tastes.

Connplex Cinemas IPO Details

The Connplex Cinemas IPO date is on 07 August 2025, and its initial public offering will end on 11 Aug with IPO allotment on Aug 12, and refund initiation on Aug 13, 2025.

The Rs. 90.27 crore new SME IPO comprises a wholly fresh issue of 51 lac shares.

The Connplex Cinemas IPO listing date (expected) might be on Thursday, Aug 14, 2025, and listing at the NSE and SME. 

The Connplex Cinemas IPO price band is Rs. 168 to Rs. 177.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Aug 07, 2025
IPO Closing Date	Aug 11, 2025
IPO Allotment Date	Aug 12, 2025
Refund Initiation	Aug 13, 2025
IPO Listing Date	Aug 14, 2025

 

Click to open demat account and apply for the IPO.

Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	61.12	36.40	27.96
Total Revenue	96.78	60.83	25.61
PAT	19.01	4.09	1.65
Net Worth	24.44	5.43	1.34
Reserves & Surplus	10.44	4.93	0.84
Borrowings	0.72	0.27	0.32

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	280.29	402.46	882.68
Net Cash Flow Investing Activities	(460.89)	(439.26)	(616.41)
Net Cash Flow Financing Activities	33.63	(10.66)	23.47

 

Revenue Bifurcation

Product/Service-wise Revenue Breakdown

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Working capital needs. Rs. ~37.63 Cr.

• Financing the necessary capital expenditures for the acquisition of a corporate office. ~ Rs. 14.79 Cr.

• The capital expenditure is needed to finance the acquisition of projectors and LED screens. ~ Rs. 24.44 Cr.

• General corporate purposes.
  
  

Listed Peers of Connplex Cinemas Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
PVR Inox Limited	10	(28.48)	-

 

Valuation

Metric	Value
ROE	127.28%
ROCE	98.25%
Debt/Equity	0.03
RoNW	77.78%
PAT Margin	19.88%
Price to Book Value	45.62
EBITDA Margin	27.48%

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2024 with an EPS of Rs. 13.58 from the last year, the resulting P/E ratio is 13.03x (taking the upper price).

Explore the Parth Electricals IPO.

IPO's Strengths 

• New technology and experience.

• Fast franchise setup & robust franchisee support system.

• A robust and varied source of income.

• Positioning strategically in developing markets.

• Different cinema formats.
  
  

IPO’s Weaknesses

• Connplex does not own the properties; all of its movie theaters are leased.

• The success of films at the box office directly affects the company's revenue.

• Connplex has a large debt load and has previously reported negative operating cash flow.

• The company now runs three movie theaters in Ahmedabad, Surat, and Surendranagar, with several more in the works.

• After COVID, a lot of people would rather watch movies on Netflix, Amazon Prime, and other services than go to the theatres.
  
  

Connplex Cinemas IPO GMP (Grey Market Premium)

Connplex Cinemas IPO GMP today is Rs. 25 as of 05 Aug 2025 at the time of writing this information. Hence, the Connplex Cinemas IPO listing price (estimated) might be Rs. 202 (upper price + current GMP or grey market premium).

Connplex Cinemas IPO Summary

The Connplex Cinemas Ltd. IPO has a market maker portion size of 2,56,000 Shares (Rs. 4.53 Cr).

IPO Opening & Closing Date	07 Aug, 2025 to 11 Aug, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 168 to Rs. 177 per Share.
Lot Size	800 Shares
Issue Size	5100,000 Shares (Rs. 90.27 Cr)
Offer for Sale	-
Fresh Issue	5100,000 Shares (Rs. 90.27 Cr)
Listing at	NSE, SME
Issue Type	Bookbuilding Issue
Registrar	Spread X Securities Private Limited

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (1600 Shares) for Rs. 2,83,200 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (2400 Shares) for Rs. 4,24,800.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

IPO Reservation (% of Net Issue)

Retail’s Portion	33.25%
Non-Institutional Portion	14.26%
Institutional Portion	47.47%

Connplex Cinemas IPO Allotment Status

To check the Connplex Cinemas IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using Registrar’s Website or Using BSE Website- ​BSE IPO allotment status

Promoters And Management of Connplex Cinemas Ltd.

• Mr. Anish Tulshibhai Patel

• Mr. Rahul Kamleshbhai Dhyani.

Pre-Issue Promoter Shareholding	95.36%
Post-Issue Promoter Shareholding	69.90%

 

IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd.
  
  

Dividend Policy

The company has not paid any dividends during the last five years.

Conclusion

Connplex Cinemas IPO, supported by robust financial growth and a varied revenue model, presents a distinctive take on India's changing movie-watching preferences. It is notable for its franchise strategy and technologically advanced film formats. However, there are significant concerns associated with OTT competition and a substantial reliance on leased buildings. Growth potential should be weighed against sector volatility and valuation by investors.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.