Cineline India Ltd Company Summary

Cineline India Ltd Summary

Cinemax India Limited was incorporated in the year 2002 as Cineline Entertainment (India) Pvt Ltd to carry on the business of building owning and operating Multiplexes Theatres and entertainment centres. The name of the Company was changed to Cinemax Cinemas (India) Pvt Ltd on December 23 2005. On June 12, 2006, the Company got converted into a public limited company and the name was changed to Cinemax India Limited. Through the Scheme of Arrangement for Demerger, further, the Company was renamed from Cinemax India Limited to Cinemax Properties Limited on 9 May, 2012 and to Cineline India Limited on 26 March, 2013.Cinemax India Ltd, a part of the Kanakia Group is one of the most prominent entertainment companies in India. The Company is engaged in business of movie exhibition in India. It run one of the largest film exhibition chains in the country with 25 properties having 74 screens, out of which 32 screens are in tax-free locations. They also operate in the gaming business under the brand name Giggles. There are four Giggles outlets in the country Eternity Mall, Thane; Eternity Mall, Nagpur; Iscon Mall, Rajkot and Dev Arc Mall, Ahmedabad.The company has four subsidiaries, namely Vista Entertainment Pvt Ltd, Growel Entertainment Pvt Ltd, Nikmo Finance Pvt Ltd and Cinemax Motion Pictures Ltd. Nikmo Finance is a subsidiary of Growel Entertainment Pvt Ltd. The multiplex at Versova, Mumbai is operating under Vista Entertainment Pvt Ltd and the multiplex at Kandivali-East, Mumbai is operating under Nikmo Finance Pvt Ltd. The Company started its operations in 1997 by acquiring a single-screen theatre in Mumbai and later retrofitting it into a two screen multiplex. In December 1997, the first theatre operations was started in Goregaon-West, Mumbai that was owned and operated collectively by the merged entities Kanakia Creators Private Ltd and Kanakia Shelters Pvt Ltd. In February 1998, the second theatre commenced its operation at Kandivali-West, Mumbai, which was owned and operated by the merged entity Hariyash Theatres Pvt Ltd. In August 1998, theatre at Andheri-East, Mumbai, commenced its operation that was owned and operated by the merged entity Vrushti Theatres Pvt Ltd. In October 2000, the first theatre with multiple screens at Sion, Mumbai under the brand name Cine Planet commenced its operations, which was owned and operated by the merged entity Rupam Pvt Ltd. In December 2003, the company commenced operation in the first Multiplex at Wonder Mall, Thane under the brand name Cine Wonder. In May 2004, they commenced operation in the multiplexes at Mira Road, Mumbai under the brand name Cine Prime and at Nasik under the brand name of Cine Zone. In December 2004, Vista Entertainment Pvt Ltd became a subsidiary of the company. In April 2005, all the Theatres/ Multiplexes renamed to Cinemax to create a chain of Theatres/ Multiplexes, centered on the brand Cinemax. In September 2005, the company operated a Multiplex at Versova under a conducting arrangement through their subsidiary Vista Entertainment Pvt Ltd.In April 2006, the company carried out a restructuring exercise, wherein seven of their group companies, namely Rupam Pvt Ltd, Hariyash Theatres Pvt Ltd, Kanakia Shelters Pvt Ltd, Kanakia Creators Pvt Ltd, Vrushti Theatres Pvt Ltd, Cineline Cinemas (India) Pvt Ltd, and Cineline Multiplex Theatres (India) Pvt Ltd were merged with the company with effect from April 1, 2006.In April 2006, Growel Entertainment Pvt Ltd became the subsidiary of the company. In May 2006, the company opened the Eternity Mall with Multiplex and the first Giggles-The Gaming Zone at Cinemax-Eternity Mall in Thane. During the year 2006-07, the company made an initial public offer of 89.20 lakh equity shares having face value of Rs 10 each, comprising of fresh issue of 70 lakh equity shares and 19.20 lakh equity shares by way of offer of sale by promoters. The equity shares of the company were listed on the National Stock Exchange and Bombay Stock Exchange on February 14, 2007.During the year 2007-08, the company opened 19 new screens taking the total number of screens across the country to 52. In April 22, 2008, they incorporated Cinemax Motion Pictures Ltd for movie distribution and production business.During the year 2008-09, the company opened 22 new screens in 7 new properties, adding 6,301 seats and this, taking the total seat capacity to 20,305 across 25 properties in 6 states. They commenced three Giggles outlets in the Eternity Mall, Nagpur; Iscon Mall, Rajkot and Dev Arc Mall, Ahmedabad.The Company in 2011, launched 5 new locations at Kochi, Ahmedabad, Vadodara, Raipur and Malegaon. It also launched an 8 lane bowling alley called Versus at Pacific Mall in Delhi. In 2012, the Theater Exhibition business of the Company was demerged into separate entity viz., Cinemax Exhibition India Limited (CEIL) ongoing concern basis through the Composite Scheme of Arrangement for Demerger and made effective on 20 April, 2012. In terms of the said Scheme of Demerger, 1 fully paid Equity Share of Rs 5 each of CEIL shall be issued and allotted for every 1 fully paid Equity Share of Rs 10 each held in the Company. In 2014, the Company launched RED Lounge, Mumbais first-ever cinema with all recliner seats at their theaters; in 2017, it established some of the most iconic cinema halls in the country located at Inorbit Mall (Hyderabad), Infinity Mall Andheri (Mumbai), Pacific Mall (Delhi).In 2022,, the Company launched Movie Max, it launched 4-Screen Cinema in The Gateway Mall of Uttar Pradesh; it provided a Luxurious Cinematic Experience in The City of Pearls and then further provided a luxurious Cinema in the City of Nawabs.