Tag: Jodhpur

  • Swiggy Instamart delivers big as smaller cities set new shopping records

    Swiggy Instamart delivers big as smaller cities set new shopping records

    MUMBAI: In a move as swift as its deliveries, Swiggy Instamart has expanded its quick commerce footprint to 100 cities across India, catering to the surging demand for 10-minute doorstep convenience beyond metro hubs. The expansion brings over 30,000 products from groceries and gadgets to fashion and festive essentials closer to millions of new customers in Raipur, Siliguri, Jodhpur, Thanjavur, and beyond.

    “India’s love for instant convenience isn’t just an urban trend, it’s a nationwide phenomenon,” said Swiggy Instamart CEO Amitesh Jha. “As quick commerce evolves, we’re thrilled to bring its benefits to underserved geographies, empowering local businesses and delivery partners while meeting growing consumer needs.”

    Swiggy’s expansion reflects a broader shift in shopping behaviour, with one in four new users in 2025 hailing from tier 2 and 3 cities. Riding this momentum, the platform is ramping up operations with ‘megapods’ large-scale dark stores spanning 10,000-12,000 sq. ft. These hubs can stock 50,000 plus products, tripling inventory and offering an expanded selection of FMCG, D2C, and local brands tailored to regional preferences.
    As Swiggy Instamart reshapes retail in smaller cities, unique shopping trends are emerging, Patna raced to 1,000 plus daily orders in just four days, while Raipur set a launch-day record with 300 orders. Thiruvananthapuram even outpaced Mumbai in demand for hot & sweet flavoured chips. Onions, tomatoes, and coriander remain the most ordered items, while one Dehradun shopper spent a staggering Rs 3.34 lakh in total, and a Thiruvananthapuram resident set a single-day record of Rs 69,993.  
     

  • Legends League Cricket: Sawai Mansingh Stadium, Jaipur to host finale matches

    Legends League Cricket: Sawai Mansingh Stadium, Jaipur to host finale matches

    Mumbai: The final match of the SKY247.net Legends League Cricket 2022, which is being held in India for the first time, will be played at the Sawai Mansingh Stadium in Jaipur on 5 October.

    Legends League Cricket co-founder & CEO Raman Raheja said that Jaipur was chosen as the venue for the big match keeping in mind the historical relevance of the ground and the city, which has witnessed world-class cricket being played in the past.

    “It is a great stadium and we hope the fans will thoroughly enjoy the experience of seeing the legends of the game competing for the winners’ trophy. As we have seen, the league has been as competitive as the best of the T20 leagues around the world, and the players, be it the bowlers or the batters, have been enthralling everyone with their outstanding performances. We have seen tense finishes in the league stage and expect the final to be no less,” Raheja added.

    The Barkatullah Khan Stadium in Jodhpur, which will witness international cricket stars for the first time after 2012, will be hosting four matches, including the qualifier and eliminator matches.

    The qualifier will be played on 2 October wherein the top two teams from the league stage will clash for a place in the final. However, the eliminator game, on 3 October, will be contested between the third-placed team and the loser of the qualifier.

    The organisers had first zeroed in on Cuttack for the all-important clash, but the festivities in the city around that time have resulted in changing their decision.

  • Josh Studios’ ‘World Famous’ talent hunt heads to Rajasthan

    Josh Studios’ ‘World Famous’ talent hunt heads to Rajasthan

    Mumbai: Short video app Josh has announced the launch of the third edition of ‘World Famous’ – a multi-city talent hunt for discovering India’s talented youth. The platform has roped in Parle Kismi as a sponsor.

    A three-week-long talent hunt spanning three cities will first arrive in Jodhpur, before travelling to Kota and then concluding in a grand finale at Jaipur, said the statement.

    Registrations for the mega talent hunt has been kickstarted on the Josh app wherein participants can upload content across genres on the app with the hashtag #WFR. The participants with highest number of votes will get the opportunity to participate in the semi-finales at Jodhpur and Kota on 2 March and 4 March, respectively. The winners of the semi-finales will then get the chance to battle it out for the ultimate prize at the grand finale at Jaipur scheduled for 6 March.

    The winners of World Famous will stand the chance to win up to Rs 1 lakh in cash prizes and the opportunity to be mentored and groomed by the top creators in the ecosystem. Bollywood stars such as Dino Morea, Rannvijay Singh, Urvashi Rautela and Karan Wahi to interact with participants and give the talented youth of Rajasthan the platform to share their passion with the world.

    “Rooted in a rich artistic heritage, Rajasthan is home to some of the most rustic and dynamic art forms in India – be it the graceful Ghoomar dance, the rich folk music, the expressive kathputhli or the lively paintings,” said Josh Studios head Seher Bedi. “We, at Josh, are very excited to launch World Famous in Rajasthan as we continue our quest to discover India’s hidden talent. World Famous was crafted around the philosophy of celebrating talent. We believe the talented youth at Rajasthan will be a true reflection of the state’s artistic roots and are very excited to see what the state has to offer.”

    Josh Studios was unveiled in March 2021 to scale the short-video platform’s capabilities to create a cutting-edge content and talent hub.

  • Q3-2016: TV Today revenue up 18%; PAT up 40%

    Q3-2016: TV Today revenue up 18%; PAT up 40%

    BENGALURU: Following revenue and profit growth in the previous quarter, TV Today Network Limited (TVTN) reported 18.1 per cent YoY increase in standalone Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) to Rs 149.67 crore as compared to Rs 126.88 crore and 17.8 per cent higher QoQ as compared to Rs 127.04 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers in this report are standalone unless stated otherwise.

    Profit after tax (PAT) for Q3-2016 increased 40.1 per cent YoY to Rs 36.90 crore (24.7 per cent margin) as compared to Rs 26.34 crore (20.8 per cent margin) and 51.8 per cent higher QoQ as compared to Rs 24.32 crore (19.1 per cent margin). 

    The company had sold four of its radio stations at Amritsar, Patalia, Jodhpur and Shimla on 18 September, 2015 to Entertainment Network (India) Limited (ENIL) as an ongoing concern for a lump sum consideration of Rs 4 crore adjusted for net working capital as a sale agreement. The transaction resulted in a profit of Rs 2.07 crore included in ‘Other Income’. 

    The company had sought permission from the Ministry of Information and Broadcasting to grant approval of its three radio stations in New Delhi, Mumbai and Kolkata, which was subsequently refused. Subsequently, TVTN has filed a writ petition at the High Court in New Delhi against the MIB’s refusal, which is still pending.

    EBIDTA calculated for Q3-2016 at Rs 55.82 crore (37.3 per cent margin) increased 27.7 per cent YoY as compared to Rs 43.71 crore (34.5 per cent margin) and was 27.7 per cent higher QoQ as compared to Rs 35.71 crore (28.1 per cent margin).

    Segment revenue

    TVTN’s Television Broadcasting segment (TV segment) reported a 16.6 per cent YoY increase in operating revenue in Q3-2016 at Rs 147.65 crore as compared to Rs 126.68 crore and 18.7 per cent more QoQ as compared to Rs 124.43 crore in Q2-2016. Operating profit from the segment in the current quarter increased 49.1 per cent YoY to Rs 54.48 crore as compared to Rs 39.22 crore and 49.1 per cent higher QoQ as compared to Rs 36.68 crore.

    The company’s radio segment reported 49.4 per cent YoY decline in operating revenue at Rs 2.02 crore as compared to Rs 4 crore, and 22.5 per cent lower operating revenue as compared to Rs 2.61 crore in the immediate trailing quarter. The segment’s operating loss in the current quarter was higher at Rs 2.54 crore as compared to the operating loss of Rs 1.94 crore in Q3-2015 but lower than the operating loss of Rs 5.48 crore in Q2-2016.

    Rebranding of Headlines Today to India Today

    In Q1-2016, TVTN rebranded its English news channel from Headlines Today to India Today from 23 May, 2015 in order to benefit from the brand name of India Today. TVTN says that it incurred a marketing expense of Rs 14.38 crore towards re-branding in that quarter. Consequently, the company’s advertisement, distribution and sales promotion expense (ad expense) in Q1-2016 was Rs 38.24 crore (30.1 per cent of TIO). This quarter, TVTN’s ad expense was one per cent lower YoY at Rs 24.82 crore (16.6 per cent of TIO) as compared to Rs 25.06 crore (19.8 per cent of TIO) but was 5.5 per cent more than Rs 23.53 crore (18.5 per cent of TIO) in Q2-2016.

    Let us look at the other numbers reported by TVTN

    Total Expenditure in Q3-2016 at Rs 101.24 crore (67.5 per cent of TIO) was 11.7 per cent higher YoY as compared to Rs 86.20 crore (71.4 per cent of TIO) and was two per cent higher QoQ as compared to Rs 99.03 crore (78 per cent of TIO) in the previous quarter.

    Production cost in Q3-2016 increased 14.9 per cent YoY to Rs 13.75 crore (9.2 per cent of TIO) as compared to Rs 11.96 crore (9.4 per cent of TIO) and almost flat (up 0.2 per cent) QoQ as compared to Rs 13.72 crore (10.8 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 37.26 crore (24.9 per cent of TIO) was 19.5 per cent higher YoY as compared to Rs 31.19 crore (20.7 per cent of TIO) and was 11.6 per cent higher QoQ as compared to Rs 33.38 crore (26.3 per cent of TIO) was 16 per cent higher YoY as compared to Rs 28.78 crore.

    Other expenses in Q3-2016 at Rs 18.02 crore (12 per cent of TIO) was 22 per cent higher YoY as compared to Rs 14.77 crore (11.7 per cent of TIO), but was 12.9 per cent lower QoQ as compare to Rs 20.71 crore (16.3 per cent of TIO).

  • Q3-2016: TV Today revenue up 18%; PAT up 40%

    Q3-2016: TV Today revenue up 18%; PAT up 40%

    BENGALURU: Following revenue and profit growth in the previous quarter, TV Today Network Limited (TVTN) reported 18.1 per cent YoY increase in standalone Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) to Rs 149.67 crore as compared to Rs 126.88 crore and 17.8 per cent higher QoQ as compared to Rs 127.04 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers in this report are standalone unless stated otherwise.

    Profit after tax (PAT) for Q3-2016 increased 40.1 per cent YoY to Rs 36.90 crore (24.7 per cent margin) as compared to Rs 26.34 crore (20.8 per cent margin) and 51.8 per cent higher QoQ as compared to Rs 24.32 crore (19.1 per cent margin). 

    The company had sold four of its radio stations at Amritsar, Patalia, Jodhpur and Shimla on 18 September, 2015 to Entertainment Network (India) Limited (ENIL) as an ongoing concern for a lump sum consideration of Rs 4 crore adjusted for net working capital as a sale agreement. The transaction resulted in a profit of Rs 2.07 crore included in ‘Other Income’. 

    The company had sought permission from the Ministry of Information and Broadcasting to grant approval of its three radio stations in New Delhi, Mumbai and Kolkata, which was subsequently refused. Subsequently, TVTN has filed a writ petition at the High Court in New Delhi against the MIB’s refusal, which is still pending.

    EBIDTA calculated for Q3-2016 at Rs 55.82 crore (37.3 per cent margin) increased 27.7 per cent YoY as compared to Rs 43.71 crore (34.5 per cent margin) and was 27.7 per cent higher QoQ as compared to Rs 35.71 crore (28.1 per cent margin).

    Segment revenue

    TVTN’s Television Broadcasting segment (TV segment) reported a 16.6 per cent YoY increase in operating revenue in Q3-2016 at Rs 147.65 crore as compared to Rs 126.68 crore and 18.7 per cent more QoQ as compared to Rs 124.43 crore in Q2-2016. Operating profit from the segment in the current quarter increased 49.1 per cent YoY to Rs 54.48 crore as compared to Rs 39.22 crore and 49.1 per cent higher QoQ as compared to Rs 36.68 crore.

    The company’s radio segment reported 49.4 per cent YoY decline in operating revenue at Rs 2.02 crore as compared to Rs 4 crore, and 22.5 per cent lower operating revenue as compared to Rs 2.61 crore in the immediate trailing quarter. The segment’s operating loss in the current quarter was higher at Rs 2.54 crore as compared to the operating loss of Rs 1.94 crore in Q3-2015 but lower than the operating loss of Rs 5.48 crore in Q2-2016.

    Rebranding of Headlines Today to India Today

    In Q1-2016, TVTN rebranded its English news channel from Headlines Today to India Today from 23 May, 2015 in order to benefit from the brand name of India Today. TVTN says that it incurred a marketing expense of Rs 14.38 crore towards re-branding in that quarter. Consequently, the company’s advertisement, distribution and sales promotion expense (ad expense) in Q1-2016 was Rs 38.24 crore (30.1 per cent of TIO). This quarter, TVTN’s ad expense was one per cent lower YoY at Rs 24.82 crore (16.6 per cent of TIO) as compared to Rs 25.06 crore (19.8 per cent of TIO) but was 5.5 per cent more than Rs 23.53 crore (18.5 per cent of TIO) in Q2-2016.

    Let us look at the other numbers reported by TVTN

    Total Expenditure in Q3-2016 at Rs 101.24 crore (67.5 per cent of TIO) was 11.7 per cent higher YoY as compared to Rs 86.20 crore (71.4 per cent of TIO) and was two per cent higher QoQ as compared to Rs 99.03 crore (78 per cent of TIO) in the previous quarter.

    Production cost in Q3-2016 increased 14.9 per cent YoY to Rs 13.75 crore (9.2 per cent of TIO) as compared to Rs 11.96 crore (9.4 per cent of TIO) and almost flat (up 0.2 per cent) QoQ as compared to Rs 13.72 crore (10.8 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 37.26 crore (24.9 per cent of TIO) was 19.5 per cent higher YoY as compared to Rs 31.19 crore (20.7 per cent of TIO) and was 11.6 per cent higher QoQ as compared to Rs 33.38 crore (26.3 per cent of TIO) was 16 per cent higher YoY as compared to Rs 28.78 crore.

    Other expenses in Q3-2016 at Rs 18.02 crore (12 per cent of TIO) was 22 per cent higher YoY as compared to Rs 14.77 crore (11.7 per cent of TIO), but was 12.9 per cent lower QoQ as compare to Rs 20.71 crore (16.3 per cent of TIO).

  • Q2-2016: TV Today revenue up 24.4 percent; PAT up 84.1 percent

    Q2-2016: TV Today revenue up 24.4 percent; PAT up 84.1 percent

    BENGALURU: TV Today Network Limited (TVTN) reported 24.4 per cent YoY increase in standalone Total Income from Operations (TIO) in the quarter ended 30 September, 2015 (Q2-2016, current quarter) to Rs 127.04 crore as compared to Rs 102.13 crore and was flat (reduced by 0.1 percent) QoQ as compared to Rs 127.11 crore.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers in this report are standalone unless stated otherwise.

     

    Profit after tax (PAT) for Q2-2016 increased 84.1 percent YoY to Rs 24.32 crore (19.1 percent margin) as compared to Rs 13.21 crore (12.9 percent margin) and was 35.4 per cent higher QoQ as compared to Rs 17.96 crore (14.1 per cent margin).

     

    The company says that it has sold four of its radio stations at Amritsar, Patalia, Jodhpur and Shimla on September 18, 2015 to Entertainment Network (India) Limited (ENIL) as an ongoing concern for a lump sum consideration of Rs 4.00 crore adjusted for net working capital as a sale agreement. Such transaction resulted in a profit of Rs 2.07 crore included in ‘Other Income’.

     

    EBIDTA calculated for Q2-2016 at Rs 35.71 crore (28.1 percent margin) increased 51.7 percent YoY as compared to Rs 23.54 crore (23 percent margin) and was 19.8 percent higher QoQ than Rs 29.82 crore (23.5 percent margin).

     

    Segment revenue

     

    TVTN’s Television Broadcasting segment (TV segment) reported a 27.1 percent YoY increase in operating revenue in Q2-2016 at Rs 124.43 crore as compared to Rs 97.91 crore and almost flat (reduced 0.2 percent) operating revenue as compared to Rs 124.65 crore in Q1-2016.  Operating profit from the segment in the current quarter increased 73.3 percent YoY to Rs 36.68 crore as compared to Rs 21.16 crore and increased 31.2 percent QoQ from Rs 27.98 crore.

     

    The company’s radio segment reported 38 percent YoY decline in operating revenue at Rs 2.61 crore as compared to Rs 4.21 crore, but 5.9 percent higher operating revenue as compared to Rs 2.47 crore in the immediate trailing quarter. The segment’s operating loss in the current quarter was higher at Rs 5.47 crore as compared to the operating loss of  Rs 1.80 crore in Q2-2015 and the operating loss of  Rs 2.61 crore in Q1-2016.

     

    Rebranding of Headlines Today to India Today

     

    Last quarter (Q1-2016), TVTN rebranded its English news channel from ‘Headlines Today’ to ‘India Today’ from May 23, 2015 in order to benefit from the brand name of India Today. TVTN says that it has incurred a marketing expense of Rs 14.38 crore towards re-branding in that quarter. Consequently, the company’s advertisement, distribution and sales promotion expense (ad expense) in Q1-2016 was Rs 38.24 crore (30.1 percent of TIO). This quarter, TVTN’s ad expense was 6.9 percent lower YoY at Rs 23.53 crore (18.5 percent of TIO) as compared to Rs 25.27 crore (24.8 percent of IO) and 38.5 percent lower QoQ as compared to the above mentioned Rs 38.24 crore (30.1 percent of TIO) in Q1-2016.

     

    Let us look at the other numbers reported by TV Today

     

    Total Expenditure in Q2-2016 at Rs 99.03 crore (78 percent of TIO) was 14.9 percent higher YoY than Rs 86.20 crore (84.4 percent of TIO), but 5.9 percent less QoQ than the Rs 105.29 crore (82.8 percent of TIO) in the previous quarter.

     

    Production cost in Q2-2016 increased 17.3 percent YoY to Rs 13.72 crore (10.8 percent of TIO) as compared to Rs 11.70 crore (11.5 percent of TIO) and increased 13.3 percent QoQ as compared to Rs 12.11 crore (9.5 percent of TIO).

     

    Employee Benefit Expense in the current quarter at Rs 33.38 crore (26.3 percent of TIO) was 16 percent higher YoY as compared to Rs 28.78 crore (28.2 percent of TIO) and was 1.7 percent higher QoQ as compared to Rs 32.81 crore (25.8 percent of TIO).

     

    Other expenses in Q2-2016 at Rs 20.71 crore (16.3 percent of TIO) was 38.9 percent higher YoY as compared to Rs 14.91 crore (14.6 percent of TIO) and was 46.5 percent higher YoY than Rs 14.13 crore (11.1 percent of TIO).

  • Havas Media India takes a trip to Jodhpur

    Havas Media India takes a trip to Jodhpur

    MUMBAI: So, who wouldn’t like to take off mid-week and head for a trip? That’s exactly what Havas Media Group India did 20-24 August, 2015. Mid 2013, Anita Nayyar announced the India Initiatives which included internal awards and training. Last year it was destination Udaipur, this year following the cancellation of Mount Abu due to the landslides, Team India headed for Jodhpur.

    The idea behind the offsite is for the team to rediscover themselves, their capabilities, to know each other better and simply, to have a great time. The agenda included – induction of new people, demonstration of global tools and processes, sharing of powerful case studies and insights, sessions on the rising media trends, digital and mobile training, team building activities, awards announcements and fun.

    Anita Nayyar, CEO, Havas Media Group India, said, “There is no better time to bond with the team across levels. Fun and enjoyment sprinkled with learning, training and discussions filled our days. We all come back enriched with bonding, relationships, learning and a lot of positive emotions.”

    Mohit Joshi, M.D., Havas Media Group India, said, “Havas is a ‘Happy Agency’ and initiatives like this allow all of us to do Meaningful Connections with our team.” 

    Ranjoy Dey, Head of Digital, Havas Media India, said, “It was a great opportunity to conduct a Digital and Mobile 1-0-1, for the entire HMG India team. When we promote “Digital at Core” as our philosophy of business, we also ensure that our entire team across the board is updated and exposed on the latest trends and knowledge. This builds meaningful interactions and ideations among all stakeholders.”

    Speaking on behalf of the team, Rohan Chincholi, Associate Director Digital Media, said, “What more can you ask from a company – when you have a DJ night the day you arrive? We loved Jodhpur – it made us do some crazy things! The team building activities made sure we were both physically and mentally exhausted. Activities like a hopping relay race, a jumping team race, creating pyramids of excellence and inventing balloon superheroes, all to mathematical specifications, were conducted. One team won, no one lost.”

    The awards included the India Internal Awards for long term service, department champions and employee of the year award which carried cash prizes. The other hit award which everyone thoroughly enjoyed were the ingenious H.U.K.A. Awards (Havas Unanimous Kritic Awards) devised by a creative lot of employees. The H.U.K.A. Awards are a funny take on employee idiosyncrasies, with names to match, identifying the one – who fixes things, who can sell anything, who consumes the most tea bags, who rushes home earliest from office and much more.

    Towards the end of the trip everyone had tested the limits of their physical and mental endurance. It was marked by song, dance, camaraderie; and new friends were made, including – a 120plus years tortoise, a troop of gray langurs and some elusive peacocks.  #HIT2J (Havas India Trip to Jodhpur) was the official hashtag of the trip but most settled for live action.

    “I think we all wanted to stay back a day longer, to create some more memories and to consume some more masala chai, nonetheless we are glad to get back to our clients”, continued Chincholi.

    The team left with a promise to all gather back again, next year, with a new theme, at a new place, a bigger team and a new hashtag!

  • Aushim Khetrapal making film on Baba Ramsaa Peer

    Aushim Khetrapal making film on Baba Ramsaa Peer

    MUMBAI: With the President of India’s national integration award in his pocket and a lot of accolades behind him for his film Shirdi Sai Baba, Aushim Khetarpal is currently filming Baba Ramsaa Peer being produced by Satish Tandon Productions and Orient Tradelink.

    The film depicts the life history of the most reverred princely saint from the western coast Baba Ramsaa Peer who was the first to spread the message of Hindu-Muslim unity in the 14th century.

    The film captures the magic of the period when Baba Ramsaa Peer dispensed humanity, peace, love and healing.

    While the Hindus lovingly called him Baba, the Muslims called him Peer, the name given to him by five Persian peers who had visited India in that era.

    The film boasts of a strong star cast with Khetarpal himself playing the key role Baba Ramsaa Peer along with Gracy Singh. It is made in Rajasthani and Hindi , while special attention is given to the costumes and dialect.

    The film has been extensively shot in Mumbai, Jodhpur, Jaipur and Roncha village and at the actual Samadhi of Baba Ramsaa.

     

  • Inox to acquire Calcutta Cine Pvt Ltd

    Inox to acquire Calcutta Cine Pvt Ltd

    MUMBAI: Leading multiplex operator Inox Leisure Limited is acquiring Calcutta Cinema Private Limited (CCPL) in an all-share-swap deal. This will allow Inox to get a firm foothold in West Bengal, adding up to its presence in Kolkata.

    CCPL, which runs its business under the brand 89 Cinemas, plans to commence its second three-screen multiplex at Durgapur in West Bengal within 15 days. The company also runs a four-screen multiplex at Swabhumi in Kolkata.

    The two companies are in the process of appointing an independent valuer. “We have agreed that the valuation will be on the basis of a discounted cash flow model over five years. CCPL is merging its operations with Inox,” says Inox Leisure Limited director Deepak Asher.

    CCPL will have 8-10 properties over the next two years. “We will be able to enhance our pan-India presence in movie exhibition by gaining a strong foothold in West Bengal,” says Asher. Inox presently operates two multiplexes in Kolkatta (Elgin Road and Salt Lake) and one in Darjeeling (Laden La Road).

    Inox also plans to open new multiplexes in Diamond City, Jessore Road with five screens and at Kharagpur with four screens. The agreement with CCPL will take Inox’s tally of multiplexes in West Bengal and Assam up to 13.In addition, CCPL has tied up properties for building and operating six other multiplexes in West Bengal and Assam. CCPL also has an understanding with Bengal Ambuja Housing Development Limited (Bengal Ambuja) – a leading real estate developer in East India – which gives CCPL preferential access as the preferred multiplex operator to all properties being developed by Bengal Ambuja.

    According to the press release, Inox also plans to expand its network with new multiplexes in Hyderabad, Chennai, Jodhpur, Lucknow, Raipur, Kolkata and Bangalore. In addition, Inox also has a strategic alliance with the Pantaloon Group of Companies which provides it with preferential access, as a multiplex operator, to all real estate developments which the Pantaloon Group of Companies and funds managed by it, are developing or otherwise associated with.

    “89 Cinemas is an emerging multiplex chain with a strong regional focus in Eastern India. The proposed merger will enable Inox to build a very strong presence in the region and the inorganic growth opportunity will create great value for Inox shareholders,” Asher says.

    CCPL CEO Debashis Ghosal commented, “We believe that the proposed merger with Inox – India’s most profitable multiplex chain – will create tremendous value for CCPL shareholders, enabling them to partake in the value creation by Inox, as well as enable Inox to build a formidable presence in Eastern India”.

    The proposed merger is subject to due diligence, final approval by Shareholders, Creditors and the High Court. Enam Financial Consultants Pvt. Ltd. is acting as Advisor to this Transaction., “We are delighted to have acted as Advisors to this transaction. We think the proposed merger is a great fit with Inox’s national footprint and 89 Cinemas strength in the eastern region. The proposed merger perhaps marks the beginning of the consolidation phase in the multiplex industry,” says Salil Pitale of Enam