Connplex Cinemas IPO Opens 7 Aug - Check GMP, Allotment Status

Connplex Cinemas Limited has received approval to proceed with an IPO. Connplex Cinemas is based in Ahmedabad, Gujarat (India) and is one of the growth conversations taking place in the business of cinema exhibition and entertainment. In a number of reports, the company is identified as a growing player in India's multiplex (theatres) sector, and experts feel they lineup well for market development and revenue growth. The newly issued IPO price band is ₹177-208, and investors should really see this IPO personal as a liquidation value investment opportunity because the company appears to be in a great position from which to capitalize on India's recovering entertainment industry (coming out of the covid pandemic) and cinema market.

As of the writing of this article, the Connplex Cinemas IPO GMP is indicating a ₹36 (17.51%) premium in the grey market. This indicates that investors would be willing to buy the shares above the IPO price at ₹36, and the investment community appears to have good demand for this offering. The grey market premium is further confirmation of investors confidence in this cinema exhibition industry leader as a public company.

IPO Dates for Connplex Cinemas Limited

The Connplex Cinemas Limited IPO is set to open on August 7, 2025, and close on August 11, 2025. The Board of Allotment (BoA) date is expected to be August 12, 2025, with listing planned for August 14, 2025.

IPO Details Summary

The minimum bid of retail investors is ₹1,41,600, which is the cost of 800 shares. Investors are also watching Connplex Cinemas IPO's GMP, at a 17.51% premium. The strong demand from investors has already shown significant investor appetite. This is one of the notable IPOs currently expected in the cinema and entertainment industry.

About Connplex Cinemas Limited

Connplex Cinemas Limited is a significant entertainment services and cinema exhibition company based in Ahmedabad, Gujarat. Connplex Cinemas has differentiated its business in India's multiplex space as a growing group by establishing quality cinema experiences, modern auditoriums, and entertainment options for consumers in urban and semi-urban areas of Gujarat and surrounding locations. 

The Connplex Cinemas company in the cinema exhibition sector is described as multiplex cinemas, with services that include movie screen services, food and beverage services, and other entertainment experiences for consumers, families, and movie enthusiasts. Connplex Cinemas provides cinema and entertainment services that have a great deal of breadth and depth to serve both individual moviegoers and corporate clients, including special screenings or events.

As of March 2025, Connplex Cinemas has grown into a developing player in cinema exhibition with an ample presence in Gujarat. Connplex Cinemas has developed into an industry player as a feature of modern cinema and customer experience focused on evolving trends and patterns in entertainment.

MUFG Intime India Private Limited (Link Intime) is the registrar for the Connplex Cinemas IPO. The proceeds from the net fresh issue will be used for expansion of cinema screens, upgradation of technology, repayment and prepayment of borrowings, working capital requirements, and general corporate purposes. Given the recovery of India's entertainment and cinema sector post-pandemic, Connplex Cinemas is well-positioned to leverage the growth of quality cinema experiences and entertainment infrastructure that India is well-positioned for.

Financial Performance of Connplex Cinemas Limited

The company has shown exceptional growth performance in the cinema exhibition sector, with remarkable profitability improvement in recent years.

Performance Analysis

Connplex Cinemas Limited has achieved very impressive financial growth in the recent past. From FY23 to FY25, Connplex's revenue grew significantly from ₹25.6. Cr to ₹96.8 Cr for a total 2-year percentage increase of 278.1%. Notably, profitability has exhibited fantastic improvement in that it has displayed an increase in profit after tax from ₹1.7 Cr in FY23 to ₹19.0 Cr in FY25, which is an estimated increase of 1017.6% in that time. This demonstrates the company's very strong capacity to scale operations and maintain strong margins despite the market and the recovery dynamics of cinema exhibition market.

Connplex Cinemas exhibited strong growth across assets which are also an important measure of improvement as total assets grew from ₹28.0 Cr to ₹61.1 Cr, which represents gross growth of approximately 118.2% over the period. Net worth increased very nicely to ₹24.4 Cr also from an estimate of ₹1.3 Cr reflecting strong retained earnings and rapid business growth. EBITDA has grown from ₹2.6 Cr to ₹26.3 Cr demonstrating fantastic improvement in operational efficiency. Total borrowings are minimal at ₹0.7 Cr which indicates strong debt management and positive cash generation. Overall it indicates strong momentum and growth for Connplex cinemas and excellent positioning for future expansion in India's cinema exhibition space as the market recovers and re-establishes. 

IPO Share Reservation

The IPO share allocation follows standard SEBI guidelines: The retail quota is 40%, QIB is 30%, and HNI is 30%.

Strengths

1. Market Recovery Beneficiary:
Connplex Cinemas is well positioned to benefit from the recovery in cinema exhibition as movie attendance picks up and the availability of content improves.

2. Outstanding Financial Performance:
Assets increased from ₹28.0 Cr to ₹61.1 Cr, while profitability increased outstandingly from ₹1.7 Cr to ₹19.0 Cr PAT, which is indicative of great business fundamentals and scalability potential.

3. Execution of Revenue Growth:
Strong revenue growth continued from ₹25.6 Cr to ₹96.8 Cr, which shows a strong market capture and customer base expansion.

4. Great Strategic Location:
Connplex Cinemas operates in Gujarat and as such benefits from the growth of a regional market and growing urban/small urban audience for entertainment.

5. Industry Recovery Benefits:
Connplex cinemas will benefit from the recovery of the cinema industry in India along with more content production and an increase in consumer spending on entertainment.

6. Technology Focused:
Investment in technology for cinema and the customer experience provides the business with a good platform for growth going forward.

7. Operational Efficiency:
The EBITDA increase from ₹2.6 Cr to ₹26.3 Cr shows strong operational leverage and cost management.

8. Strong GMP:
The grey market premium of 17.51% indicates investor confidence and good sentiments in the market.

9. Low Debt Levels:
Minimal borrowings at ₹0.7 Cr shows conservative financial management and strong cash-generation abilities.

Risks

1. Industry Cyclicality:
Cinema or movie theatre success depends on community conditions and cycles in the economy, availability of content, and the spending levels of entertainment consumers.

2. Content Dependency:
Movie revenues rely entirely on the quality and availability of content, the production values of which are beyond the control of the company.

3. Competition:
The company operates in a highly competitive environment with established industry players, multi-plex cinemas, and single screens posing competitive threats through the loss of share and reduction in pricing power.

4. Geographic Concentration:
The company has high dependence on the Gujarat market, if the company experiences weakness in the region, it could have greater risk.

5. Competition with OTT Platforms:
The growth of OTT platforms such as Netflix and Amazon have captured the attention of the entertainment consumer and may adversely impact cinema attendance and previously available revenue opportunities.

6. Seasonal Fluctuations:
The cinema or movie theatre industry is seasonal in nature; periods of disruption and festivals have a tendency to disrupt revenue.

7. Potential to Rapidly Expand:
The business model provides the opportunity to expand quickly, high growth levels can place strain on the operational capacity of the business and require continuous new investment capital.

8. Real Estate Dependence:
The cinema operating model depends on location and prime real estate which has a high likelihood of increasing rent costs.

How to Apply for Connplex Cinemas IPO?

Step-by-step guide (when IPO opens on August 7, 2025):

1. Log in to your broker app (Zerodha, Angel One, Groww, etc.)
2. Go to the IPO section and select the Connplex Cinemas IPO
3. Click Apply
4. Enter:
   • Lot size (800 shares minimum)
   • Bid price (₹177-208 or select Cut-Off)
   • Your UPI ID
5. Submit the application
6. Approve the UPI request in your UPI app (PhonePe, GPay, etc.)

⏰ Important: The UPI request must be approved before 5 PM on the same day or before the IPO closes on August 11, 2025.

How to Check Connplex Cinemas IPO Allotment Status?

You can check the Connplex Cinemas IPO allotment status through NSE/BSE and the registrar portal once the IPO opens.

Check On NSE/BSE

1. Visit the NSE or BSE official website
2. Go to the IPO Allotment Section
3. Select Connplex Cinemas IPO
4. Enter PAN number or application number
5. Submit details to get the Connplex Cinemas IPO allotment status

Check On the Registrar Portal

1. Visit MUFG Intime India Private Limited website:
2. Select IPO allotment status
3. Choose Connplex Cinemas IPO
4. Enter PAN or application number
5. Submit to check status

Company Address

Name: Connplex Cinemas Limited
Address: Block C-1001, Krish Cubical Opp. Avalon Hotel, Nr. Govardhan Party Plot, Thaltej, Ahmedabad, Daskroi Ahmedabad, Gujarat, 380059
Phone: +91 07935289865
Email: info@theconnplex.com
Website: https://ticketing.theconnplex.com/

IPO Registrar

Name: MUFG Intime India Private Limited (Link Intime)
Phone: +91 2249186270
Email: ipo.helpdesk@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Address: Link Intime India Private Ltd, C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai - 400083

Conclusion

Connplex Cinemas Limited represents a fun opportunity in the Indian cinema exhibition market as the industry is recovering strongly. The company has exceptional fundamentals as evidenced by strong revenue growth, and exceptional improvement in profitability during a rapid expansion of the asset base. Connplex's revenue growth over the two-year period was 278.1% with a 1017.6% improvement for profit after tax which illustrates the excellent ability to leverage the recovery of India's entertainment industry.

An IPO price band for Connplex has been set between ₹177-208 as the company has a strong GMP of 17.51% which would indicate positive market sentiment and investor confidence. Connplex has achieved outstanding operational growth with EBITDA increasing from ₹2.6 Cr to ₹26.3 Cr, and with its strategy of entering into an emerging market in Gujarat, the entertainment sector may reward the company with competitive advantages unique to India's rapidly growing cinema exhibition sector. 

Potential Investors should analyze the futuristic risks such as, content dependency, cyclicality of the industry, competition from OTT platforms, and regional market concentration. We believe that Connplex represents a significant upside for those investors, that have the risk appetite, and who, believe in the recovery of India's cinema industry similar as to the recovery story with Connplex's exceptional financial performance and strategic market positioning.

Disclaimer: This analysis is for educational purposes and not financial advice. Please consult a financial advisor before making investment decisions.

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