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Inox Leisure surges on the buzz of plan to buy Satyam Cineplexes

30 Jun 2014 Evaluate

Inox Leisure is currently trading at Rs. 159.75, up by 4.85 points or 3.13% from its previous closing of Rs. 154.90 on the BSE.

The scrip opened at Rs. 156.60 and has touched a high and low of Rs. 162.90 and Rs. 156.60 respectively. So far 80959 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 166.80 on 10-Jun-2014 and a 52 week low of Rs. 50.60 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 162.90 and Rs. 151.30 respectively. The current market cap of the company is Rs. 1538.50 crore.

The promoters holding in the company stood at 48.70% while Institutions and Non-Institutions held 4.35% and 46.95% respectively.

Inox Leisure is reportedly in talks to buy Satyam Cineplexes for around Rs 220 crore, indicating further consolidation in the movie exhibition business. The company will raise the funds by offloading treasury stock. Yes Bank has been given the mandate to sell the treasury stock and look for acquisitions.

The acquisition of Satyam Cineplex will strengthen Inox Leisure’s presence in North India, a territory that is dominated by larger rival PVR. Ajay Bijli-controlled PVR overtook Inox by acquiring Cinemax India in November 2012 to become the largest multiplex operator in India.

INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India. INOX is India’s largest multiplex brand and with this launch, it is now present in 43 cities with 79 properties and 310 screens.

 

Inox Leisure Share Price

507.90 0.00 (0.00%)
16-Feb-2023 18:03 View Price Chart
Peers
Company Name CMP
PVR 938.05
Saregama India 344.55
Shemaroo Entertain. 105.35
Balaji Telefilms 94.39
UFO Moviez 72.06
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