Page 3 - Inox

PVR Inox gains 3% on highest-ever weekend footfalls, box-office collection

The company welcomed around 3.36 million guests at its cinemas and earned gross box office revenue of around Rs 100 crore in the Aug 11 - 13 weekend.

Jailer Box Office Collection Day 1: Rajinikanth movie breaks many records

Rajinikanth-starrer Jailer shattered many records and earned more than 50 crore gross across the country. The movie marks the comeback of Rajinikanth after two years on the big screen

NCLAT set aside CUTS' petition seeking CCI probe in PVR INOX merger

The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a plea seeking an investigation by the fair trade regulator CCI over the merger of two leading multiplex operators PVR and INOX. NCLAT rejected the petition by Consumer Unity & Trust Society (CUTS) observing that the fair trade regulator has rightly observed that even if the merger is concluded, their dominance in the film exhibition industry per se is not anti-competitive. CUTS had challenged an order by the Competition Commission of India which rejected its plea on September 13, 2022, for seeking an investigation into the merger. However, during the pendency of the appeal the Mumbai bench of the National Company Law Tribunal (NCLT), approved the merger on February 16, 2023, sanctioned the scheme of merger by absorption of the Inox with PVR. In its petition CUTS said transaction is exempted from the notification requirement under Section 5 of the Competition Act as it qualifies for the de minimus ...

PVR INOX launches standalone IMAX property at iconic Priya Cinema

Multiplex chain PVR INOX on Thursday announced that they have converted Priya Cinema, one of the first theatres they opened in the national capital, into a state-of-the-art standalone IMAX theatre. The property at Basant Lok Complex, Vasant Vihar, will feature a next generation laser projection and multi-channel sound system exclusive to IMAX theatres for a truly immersive experience. Ajay Bijli, Managing Director, PVR INOX Limited, said upgrading their landmark cinema hall was a proud moment for the company. "It was the first cinema that we started here in Vasant Vihar and it has gone through a lot of changes. But this particular format is the best in its class. It makes a big movies even bigger and it is extremely immersive. We have been committing ourselves for the past 33 years that how do we make the experience absolutely amazing and at the same time do justice to people who make content," Bijli said at the event here. Actor Ayushmann Khurrana, who was also present at the even

PVR Inox Q1FY24 results: Net loss at Rs 80.1 crore; revenue up 31%

The total income for Q1FY24 came in at Rs 1290.1 crore, compared to Rs 983.5 crore YoY

Sensex drops 224 pts in fag-end, Nifty below 19,400; Delta Corp sinks 23%

CLOSING BELL ON JULY 12, 2023: Shares of online gaming firms wilted under selling pressure on Wednesday owing to the 28% GST levy. Meanwhile, HDFC signed-off its from the bourses with a 0.6% loss.

We will bounce back, it is a matter of two quarters: PVR Inox's Ajay Bijli

PVR Inox made Rs 3,869 crore in revenues last financial year, and owns 1,689 screens in 115 cities

PVR-INOX plans to shut down around 50 cinema screens over next 6 months

Leading cinema exhibitor PVR INOX plans to close around 50 loss-making screens, having an accelerated depreciation. "The company plans to shut down approximately 50 cinema screens over the next 6 months," said PVR INOX in its investor's update for the fourth quarter and financial year ending of March 31, 2023. These properties are loss-making, or housed in malls which have reached the end of their life cycle with little hope of any revival. "The company has taken an accelerated charge of the depreciation in its books and written off the WDV of assets," it said. PVR-INOX Ltd has been created after the merger of two leading cinema brands PVR Ltd and INOX Leisure. The merger was effective from February 6, 2023. The merged entity is operating 361 cinemas with 1,689 screens across 115 cities by the end of FY23 in India and Sri Lanka. Karan Taurani SVP of Elara Capital said: "There will be Rs 100 million of EBITDA impact (savings) by closing down of 50 screens. Most of these screens a

INOX invests in Tata Steel's Dhenkanal plant to set up air separation units

INOX Air Products will invest Rs 1,300 crore to set up two air separation units having capacity of 1,800 tonnes a day each at Tata Steel's plant in Dhenkanal, Odisha, company's Managing Director Siddharth Jain said. The plant is being set up as part of a partnership with the steel major for supplying industrial gases like oxygen, nitrogen and argon -- which are used in the steel making process, the company executive told PTI during an interaction. The air separation units (ASUs) will be the single-largest greenfield investment ever made by INOX Air Products and will support Tata Steel's ongoing steel capacity expansion. The units will separate these gases from the air and supply it to the steel plant, Jain said, adding that the project is expected to be commissioned by March, 2025. When asked about the details of the partnership, he said his company has signed an agreement with Tata Steel for 20 years to supply oxygen, nitrogen and argon, and Rs 1,300 crore will be invested to set

Ahead of Suzume release, PVR says strong signals to grow anime genre

'Anime film series have been a huge success in many parts of the world'

Inox Air ropes in TP Saurya Bandita to set up 40 MW captive solar plant

INOX Air Products on Tuesday said it has signed an agreement with TP Saurya Bandita Ltd to set up a 40 MW captive solar plant at Dhule in Maharashtra. TP Saurya Bandita is a special-purpose vehicle of Tata Power Renewable Energy Ltd (TPREL). In a statement, INOX Air Products (INOXAP) said, "The power project with a capacity of 40MWp, would cater to the energy needs of the air separation units operated by INOXAP in Maharashtra." Once commissioned, the plant will help INOXAP reduce 48,000 tonnes carbon emissions on an annual basis. This project is in line with INOXP's long-term strategy to reduce dependency on fossil fuels, lower the carbon footprint to manufacture green medical and industrial gases, it said. INOXP did not disclose the order value. According to industry estimates, an investment of about Rs 5 crore is required to set up 1 MW of solar capacity.

Inox Air Products to set air separation unit at Hazira AMNS steel plant

INOX Air Products (INOXAP) on Monday said it will set an air separation unit -- a plant that separates oxygen and nitrogen from atmospheric gases -- at steel maker AMNS's plant located at Hazira in Gujarat. Producing oxygen is part of the overall steel making process through the blast furnace route. In a statement, INOXAP said it "has been awarded a prestigious contract for setting up its sixth air separation unit (ASU) at the Hazira unit of ArcelorMittal Nippon Steel India (AMNS India)." The new ASU has the ability to produce 1,000 TPD (tonne per day) of gaseous oxygen and 1,000 TPD of gaseous nitrogen along with other liquid medical and industrial gases, it said, adding the unit will be commissioned within 23 months. INOXAP's had already installed five ASUs at AMNS Hazira plant and the commissioning of the sixth one would scale up the combined capacity of the industrial gas complex to 11,100 TPD. The company did not disclose the order value.

PVR launches Lucknow's biggest 11-screen cinema post merger with Inox

After merging with INOX Leisure Limited, PVR Limited announced the opening of Lucknow's largest cinema in Lulu Mall. The 11-screen Superplex will increase the company's presence in UP

PVR-Inox merger: How big is the consolidation in Indian cinema

The country's largest and second-largest theatre chains, namely, PVR and Inox, received the final approval for their proposed merger on Thursday

NCLT gives approval for merger of multiplex operators PVR and Inox

Detailed order expected in next few days; paves way for India's largest cinema chain

PVR-INOX merger should get done by Feb next year: Director Siddharth Jain

'We would love to have more players entering the market because that is how the business will grow'

Inox group plans Rs 1,000-crore IPO of cryogenic equipment maker in 2023

InoxCVA's offering may hit primary market next year

Inox GFL Group raises around Rs 1,500 cr across entities to pare down debt

Inox GFL Group on Thursday said that it has raised around Rs 1,500 crore across its entities in the last fortnight. The Inox GFL Group, recently embarked on a journey towards deleveraging across all its operating entities. Towards this goal the Group has been on a significant fundraising spree, raising almost Rs 1,500 crore across its entities in the last fortnight, a company statement said. This funding has been used to pare down debt substantially across its operating companies and consequently the interest outgo will reduce substantially, it added. Around Rs 740 crore was recently raised through an IPO (initial public offering) of Inox Green Energy Services Ltd (IGESL) and the funds raised have been majorly utilized towards debt repayment, it stated. Further the promoters have recently raised Rs 720 crore through sale of shares of Gujarat Fluorochemicals Ltd (GFL). The sale proceeds, net of expenses and taxes, have been infused in Inox Wind Ltd (IWL). In turn IWL has repaid the

Inox Wind, Inox Green Energy Services reduce debt by Rs 411 crore

Wind energy solutions provider Inox Wind on Tuesday said the company and its arm Inox Green Energy Services have paid debts of Rs 411 crore. Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of the strategic initiative to deleverage their respective balance sheets, have recently paid Rs 250 crore and Rs 161 crore (aggregating to Rs. 411 crore) towards reducing their debt, an exchange filing said. Consequently, the corporate guarantees given by Gujarat Fluorochemicals Ltd have also got reduced to that extent. Both the companies are in the process of further reducing their debt in due course, it added. Inox Wind Ltd is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. Inox Wind is a fully integrated player in the wind energy market with three stateof-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Inox Wind's manufacturing capacity stands at 1,600 MW per annum. Inox Green Energy

PVR sees superplexes as next blockbuster concept in cinema business

A regular multiplex typically has 4-5 screens per property. Larger ones may go up to 7-8 screens at a single location