INOX to acquire Satyam Cineplexes

Udaipur, 3 August, 2014: INOX Leisure Limited (INOX), India’s premium multiplex brand, executed transaction documents to acquire New Delhi headquartered Satyam Cineplexes Limited (Satyam) by way of acquisition of 100% of the equity share capital of Satyam from its existing shareholders for a consideration of Rs. 182 crores, subject to closing. The proposed acquisition of one of the industry’s prime assets, is a part of INOX’s strategy to expand its footprint across the country and gives INOX a significant foothold in the North Indian region. Post the proposed acquisition, INOX shall be present in 50 cities with 91 multiplexes and 358 screens.

  • Third acquisition in seven years
  • Acquires prime assets, strengthening its position in North India
  • Reinforces INOX’s commitment and belief in the strong growth potential of this sector

The acquisition of Satyam shall be the third by INOX in less than a decade.  INOX has earlier acquired Calcutta Cine Private Limited in 2007, which triggered the consolidation phase in the multiplex industry, followed by Fame India Limited in 2010.

Speaking on the occasion, Mr. Deepak Asher, Director, INOX Group of Companies said, “It has been our strategy to expand our multiplex business both organically and inorganically over the years. With this acquisition, we will strengthen our position further in the industry as well as in the country, especially North India. This philosophy, of being a market leader, runs across all our businesses. We look forward to take advantage of our vast reach across the length and breadth of the country and offer a one-stop platform to the complete value chain of film producers and distributors, right to the end consumer. Over the next few months, we will evaluate the full benefits of integration and consolidation, to drive competitive advantage across the value chain, and consider our strategic options in accordance with regulatory guidelines. We welcome the Satyam team to the INOX family, and look forward to working with them to enhance value for all stake-holders, with this transaction”.

Mr. Alok Tandon, Chief Executive Officer of INOX Leisure Limited said, “We are looking forward to make this integration work positively for our stakeholders, INOX and Satyam employees as well as our guests.  We look forward to a smooth merger of best practices of both the companies.  We are excited and ready to bring in the best movie viewing experience to our guests in these multiplexes”, he adds.

Mr. Deven Chachra, Managing Director, Satyam, while speaking on the occasion, said “We have painstakingly built this business, and while it is hard to see something that one has built with one’s own hands go, I have the confidence and faith that INOX will nurture it and take it to greater heights.  Our decision was driven by our belief in INOX’s professional management and strong customer focus, which we believe would translate into a value add for our employees, our entire distributor and supplier ecosystem as well as all our patrons. This deal marks a complete exit for us from this business with INOX having bought 100% of the equity in the company and having assumed its liabilities and taken over its assets, we are happy that our partnership with the INOX family will continue in the form of a long term lease in respect of the three Delhi sites.”

Grant Thornton Advisory acted as sole financial advisors and Khaitan & Co. as legal advisors to INOX Leisure Limited.

BMR Advisors acted as sole financial advisors and Luthra & Luthra Law Offices acted as the legal advisors to the shareholders of Satyam Cineplexes Limited.

Inox Wind Limited receives 170MW order from Continuum Wind Energy

Udaipur, 16 June, 2014: Inox Wind Limited, a subsidiary of Gujarat Fluorochemicals Limited, one of India’s leading wind power solutions provider, has been awarded a 170MW order from Continuum Wind Energy, a Singapore based company, indirectly majority owned by Morgan Stanley Infrastructure Partners. The project is to be constructed in and around Ratlam and Mandsaur districts of Madhya Pradesh and it is one of the largest wind turbine orders in India for a single project.

Inox_wind

The order, valued in excess of Rs 900 cr,  is for 85 units of Inox Wind’s newly launched 2MW wind turbine with 100 meter rotor diameter, a variant of its well established 2MW wind turbine platform. Inox shall also carry out the erection & commissioning as well as the operations & maintenance of the project.
Speaking on the occasion, Mr. Kailash Tarachandani, CEO of Inox Wind Limited said, “This is a landmark order that underscores our competitive positioning across the highly competitive and growing Indian wind market. With a focus on technology and customer centricity, we have launched this new product for our clients who can achieve optimum energy yield with lower wind speeds”.
Commenting on the order, Mr. Arvind Bansal, CEO & Director, Continuum Wind Energy, said: “In pursuit of our strategy of creating efficient, large scale, world class wind farms in India, we are excited to partner with Inox given their technology  generates more energy in low speed winds. We believe that the successful implementation of such projects will not only result in a cleaner energy base for India but also will help to empower the rural communities of Madhya Pradesh”.

“We are happy to partner with Continuum Wind Energy in their ambitious plan to be one of India’s leading renewable IPPs. Inox’s 100 meter rotor diameter turbine is expected to be a game changer in the wind industry in India. We continue to leverage our strong competitive positioning to emerge as the leading wind solutions provider in India”, said Mr. Devansh Jain, Director, Inox Wind Limited.

“We are excited to support and strengthen our close partnership with Continuum Wind Energy, which is pursuing a differentiated strategy of building and owning large scale, efficient wind farms in India,” Said Chris Koski, Managing Director and head of Investment Strategy, Morgan Stanley Infrastructure Partners.

About Continuum Wind Energy

Continuum Wind Energy was founded in 2009 by a group of professionals turned entrepreneurs, who worked at India’s leading companies for close to two decades after being educated at India’s foremost institutions. Continuum Wind Energy follows a philosophy of self-development of environmentally-friendly, high yielding wind farms after diligent study of the wind resource, careful planning of construction program in conjunction with the local population and obtaining a fully-committed, conservative financing structure.
Singapore-based Continuum Wind Energy is indirectly majority owned by Morgan Stanley Infrastructure Partners, a leading infrastructure investment platform that focuses on long-term investments in infrastructure assets associated with providing essential public goods and services to societies across the globe. For further information about Morgan Stanley Infrastructure Partners, please visit www.morganstanley.com/infrastructure  and for additional information about Continuum Wind Energy and its plans, please visit Continuum Wind Energy at www.continuumenergy.in

About Inox Wind Limited

Inox Wind Limited, is a part of the over $ 2 billion Inox Group, which is involved in diverse businesses including industrial gases, refrigerants, chemicals, engineering plastics, cryogenic engineering, renewable energy and entertainment.

Inox Wind is one of India’s leading wind power solutions provider with manufacturing plants, in Gujarat and Himachal Pradesh. Inox Wind offers a broad range of services to its customers. This includes providing turnkey solutions by manufacturing and supplying wind turbine generators and offering a variety of services including wind resource assessment, site acquisition, project development, erection and commissioning, and also providing long term operations and maintenance of wind power projects.

Presently Inox Wind is implementing projects across Gujarat, Rajasthan, Madhya Pradesh, Maharashtra and Andhra Pradesh.

 

Grand Celebration of Women’s Day at INOX Udaipur

Udaipur, 8 March 2014:  For many ladies it was a regular trip to watch a movie at INOX. Little did they realize that this trip to watch the latest blockbusters would win them free passes for a spa session to pamper themselves. INOX celebrated International Women’s Day with a daylong celebration filled with fun and exciting activities – including emcee-driven contests, games where loads of exciting gifts were up for grabs.

Inox Udaipur

Inox Udaipur

Inox Udaipur

Speaking on the occasion, Mr. Abhishek Bhandari, (Unit Manager) of INOX at Udaipur said, “We are very happy to organize the Women’s Day Activity here for our guests. At INOX we always look at ways and means to bring in the best movie viewing experience to our guests. We organize a lot of contests and events to bring in much more to the movie viewing experience of our guests”, he adds. INOX, India’s favorite movie destination is constantly looking at ways and means to reach out to the guests and make the movie going experience more interesting for them. To this end INOX regularly hosts different events, contests and promotions.

 

 

INOX guest wins Goa holiday

Udaipur, 20 May 2013:  It was a regular trip to watch a movie at the newly launched INOX multiplex for Mr. Yogesh Vyas Little did he realised that this trip to watch GO GOA GONE would land him in Goa for a holiday.

Inox_Udaipur_Yogesh_Vyas

INOX in association with RJ TRADE WINGS organised a ‘Watch and Win’ contest from May 10 – 16, 2013, where each guest had to fill in their contact details and one lucky winner would win a all expense paid trip to Goa. The winner Yogesh Vyas was chosen today and they will soon go for a wonderful holiday !

Speaking on the occasion, Mr. Abhishek Bhandari, (Unit Manager) of INOX at Udaipur said, “We are very happy to choose Yogesh Vyas as a winner of this contest. At INOX we always look at ways and means to bring in the best movie viewing experience to our guests. We organise a lot of contests and events to bring in much more to the experience. I wish a very happy holiday to Yogesh Sharma and wish we can organize many such contests in the future”.

INOX, India’s favourite movie destination has a pan India presence and currently operates 46 multiplexes and 182 screens in 30 cities across India, making it a truly national multiplex chain. INOX has been the fore runner of the multiplex culture in Rajasthan with 6 multiplexes and 19 screens in Rajasthan (12 in Jaipur, 3 in Kota and 4 in Udaipur).

LIVE THE MOVIE only at INOX!