New Delhi, August 14 (HIS) – Entertainment company Connplex Cinemas made a strong debut on the NSE SME platform today, but early gains fizzled out as post-listing selling pressure set in.
Priced at ₹177 per share in its IPO, the stock opened at ₹195 — a healthy 10.17% premium over the issue price. However, selling soon took over, eroding much of the debut-day cheer for investors. By the end of the trading session, the stock had slipped to ₹186.90, trimming listing gains to just 5.59%.
The company’s ₹90.27-crore public offering, held from August 7 to 11, had received overwhelming investor interest, with an overall subscription of 35.67 times. The QIB segment was subscribed 44.21x, non-institutional investors (NII) bid 49.75x, and the retail portion saw 24.75x subscription. The IPO comprised 51 lakh fresh equity shares of face value ₹10 each.
Proceeds from the issue will be used for the purchase of a corporate office, acquisition of LED screens and projectors, working capital requirements, and general corporate purposes.
Financially, Connplex has shown robust growth. According to the company’s prospectus, net profit surged from ₹1.65 crore in FY 2022-23 to ₹4.09 crore in FY 2023-24, and jumped further to ₹19.01 crore in FY 2024-25. Revenue grew at a compound annual growth rate (CAGR) of over 91%, reaching ₹96.78 crore in FY 2024-25.
Debt levels, however, fluctuated — closing at ₹32 lakh in FY 2022-23, ₹27 lakh in FY 2023-24, and rising to ₹72 lakh by FY 2024-25.
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Hindusthan Samachar / Jun Sarkar
