~3.5 times over-subscribed by marquee global and Indian institutional investors

Raises a total of Rs. 250 Cr through issue of 9,803,921 shares at Rs 255 per share

Mumbai, November 13^th 2020 (GPN): INOX Leisure Limited (INOX) today announced a successful completion of fund raising of Rs. 250 Cr through a Qualified Institutional Placement (QIP). The QIP opened for subscription on 9^th November and closed on 12^th November, and was over-subscribed by ~3.5 times. INOX allotted 9,803,921 shares of face value of Rs 10.00 each to eligible Qualified Institutional Buyers (QIBs) at Rs 255 per share, 

The QIP saw subscription from highly reputed and marquee global and Indian institutional investors. Some of the global investors included Abu Dhabi Investment Authority and Eastspring Investments, while the Indian investors included some of the largest domestic mutual fund houses like ICICI Prudential, Birla Mutual Fund, Nippon India Mutual Fund, DSP Mutual Fund and Sundaram Mutual Fund. The Issue allocation is approximately 69% and 31% to Indian and foreign investors respectively. 

Speaking about the response to the QIP, Siddharth Jain, Director – INOX Group said, “The stupendous response to our QIP endorses the faith our investors have in the future of our business model and the strength of the management team. We are delighted with the participation and support of high quality investors, which will fuel the journey of INOX 2.0 in the future. I extend my deepest gratitude towards our investors for the trust they have bestowed upon us.”

The funds raised through the QIP would be utilised by INOX to meet capital expenditure requirements for ongoing and future projects, to sustain growth in the business, for business expansion and to improve the financial leveraging strength of the Company. The funds raised will also be invested towards working capital requirements, towards debt repayments including repayment of any existing or future debt incurred for any purpose including for paying off any liability, for investments in subsidiary companies as well as for general corporate purposes, including but not limited to pursuing new business opportunities, acquisitions, alliances etc, Overall, INOX aims to augment its business growth with the freshly accrued funds. 

ICICI Securities Limited and IIFL Securities Limited acted as Book Running Lead Managers to the Issue (collectively, the “Lead Managers”). Khaitan & Co acted as the sole Indian legal counsel to the Issue and Squire Patton Boggs Singapore LLP acted as the International Legal Counsel to the Lead Managers with respect to selling restrictions. ENDS

About INOX Leisure Limited

INOX Leisure Limited (INOX) is amongst India’s largest multiplex chains with 147 multiplexes and 626 screens in 68 cities. INOX has redefined movie experiences in India making it truly a 7-star experience. Each INOX property is unique with its own distinct architecture and aesthetics. Beyond the normal screens, INOX also has INOX INSIGNIA for the discerning audience or KIDDLES for young patrons or MX4D® EFX Theatre for an immersive experience or the panoramic viewing with ScreenX at select locations. INOX brings the very latest in projection and audio technology with INOX Laserplex, IMAX & INOX ONYX. Some of the key multiplex features include plush micro adjustable leather recliners with a butler on call facility, gourmet meal choices by celebrity chef, designer staff uniforms. INOX recently launched Megaplex, massive experience-driven entertainment destinations at Palassio Mall Lucknow and at Inorbit Mall, Malad, Mumbai which is home to the most number of cinema formats in the world.