MUMBAI, November 2, 2018 /PRNewswire/ --
The Board of Directors of INOX Leisure Limited ('the Company') today approved preferential issue of maximum 64,00,000 Equity shares to Gujarat Fluorochemicals Limited, Promoter of the Company, at a price not less than the floor price (Rs. 241.71) determined as per the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009 and Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018, as applicable.
The above preferential issue is subject to Shareholders approval to be obtained through Extra-ordinary General Meeting scheduled to be held on Thursday, 29th November 2018.
The funds raised through the preferential issue will be used for the purpose of strengthening the Balance Sheet of the Company by reducing debt, improving leverage, enhancing borrowing power for future growth opportunities and increasing profitability.
INOX currently operates 132 multiplexes and 536 screens in 66 cities and expanding aggressively into places like Gwalior, Jaipur, Hyderabad and Delhi NCR while adding new properties in Delhi NCR, Mumbai and Bengaluru amongst others.
About INOX Leisure Limited
INOX Leisure Limited (INOX) is amongst Indiaâ€™s largest multiplex chains with 132 multiplexes and 536 screens in 66 cities. INOX has redefined movie experiences in India making it truly 7-star. Each INOX property is unique with its own distinct architecture and aesthetics. INOX boasts of bringing the very latest in projection and audio technology, plush micro adjustable leather recliners with a butler on call facility, gourmet meal choices by celebrity chef, designer staff uniforms and many more. For easy and convenient ticket booking, INOX offers online booking on www.inoxmovies.com and through its smart phone applications across Android and Apple platforms.
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INOX Leisure Ltd.