INOX Leisure Ltd: History, Growth & Share/Stock Price

About Inox Leisure: INOX Leisure, often known as INOX Movies, is an Indian movie cinema chain headquartered in Mumbai, India. It has 164 movie theatres and 702 panels in 73 cities across the country as of August 2022. 

INOX Leisure Ltd is INOX Group’s entertainment diversification endeavor. INOX (Industrial Oxygen Co Ltd) Group includes INOXCVA, INOX Green Energy Services, INOX Fluorochemicals, Inox Air Products, Inox Wind, and other subsidiaries.

History of Inox Leisure

In November 1999, the corporation was formed as a public corporation. It is part of the INOX group of businesses. The company began operations in 2002 by establishing its first four-screen complex in Pune and second four-screen multiplex in Vadodara. Movie theatres were developed in Goa, Kolkata, and Mumbai in 2004.

In 2006, Gujarat Fluorochemicals went public by offering 1,65,00,000 shareholdings of 10 each for 120 per share, comprising of a new issue of 1,20,00,000 share capital of 10 each and an offer to sell 45,00,000 share capital of 10 each.

Over the years, more displays have been installed in places such as Darjeeling, Kota, Rajasthan, Bangalore, Jaipur, Indore, and Lucknow.

Acquisitions and mergers

In a share swap arrangement in 2006, INOX purchased 89 Cinemas from Calcutta Cinema Private Ltd, giving INOX possession of nine movie theatres in West Bengal and Assam.

INOX bought Satyam Cineplexes Limited for 182 crores by acquiring 100% of the equity shares from its current shareholders.

On March 27, 2022, INOX announced a merger with PVR Cinemas, India’s largest theatre chain.

Sustainability

According to INOX Director Siddharth Jain, the Metro INOX movie theatre in Mumbai acquired India’s first solar-powered cinema in 2018. In addition, in 2021, the business will establish an electric vehicle charging facility at its Pune multiplex.

Awards and Recognitions

• ICICI Entertainment Distributor of the Year Award 2005
• TAAL Multiplexer Award in 2006.
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• Developing Superbrand of the Year for 2007.
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• Newest Technology Entrant of the Year at the 2016 Big Cine Exposition Awards.
• 2017 – Entertainment Distributor of the Year, India Retail Forum.

First solar-powered multiplex

Mumbai’s Metro Inox is becoming the city’s first solar-powered multiplex. The historic SoBo theatre features eight screens, two of which will now use solar technology.

Metro Inox, Mumbai’s historic heritage cinema, just launched two solar-powered screens, making it India’s first cinema to embrace the solar revolution.

The historic SoBo theatre features eight screens, two of which will now use solar technology. The solar farm will considerably help with environmental protection by reducing CO2 emissions by 282 tons over its operational life. The theatre’s carbon impact will be reduced by growing 4,526 teak trees.

INOX Group Director Siddharth Jain stated, “This is one of several firsts for us in the Cinema Events Industry. We are thrilled to be a part of the sunlight revolution, and what better way to kick it off than with our heritage property?”

The system is estimated to generate 1,33,000 electric units per year. During its 25-year operational life, the facility will have produced nearly 33,00,000 pieces of green and clean energy. According to a statement issued on behalf of the Metro Properties group’s Gupta family, “We are tremendously happy to announce the opening of India’s first 100% solar-powered cinema.