Date of investment: June 2001
Founded in 1975, Shringar Films aspired to bring the highest quality of entertainment to Indian movie audience. IVFA partnered with Shringar when it was the biggest distributor in western India. Shringar was known for its astute judgement of spotting blockbuster films at the right price and high ethical standards. This perception held Shringar in good stead for 5 years prior to IVFA’s investment, for it was generating an annualized return of over 40% via film distribution. Shringar was ripe for venturing into film exhibition and had a desire to increase its distribution reach across India.
Once IVFA came into the picture, Shringar put in operation 5 multiplexes with 20 screens and had a pipeline of 25 multiplexes with 100 screens under construction all over India. The brand ‘Fame’ came into being for the film exhibition business and several programs were initiated to increase customer footfalls and loyalty. It scaled up alternate revenues such as in-theatre advertising and food & beverage sales.
Shringar’s dream was realized with the launch of its IPO in April 2005, which was oversubscribed 10 times. IVF divested its stake in Shringar after the successful IPO.
- Shringar’s position at the helm of sourcing, distribution and exhibition of films in Western India for almost 25 years
- Control over 100 screens in Western India
- Shringar had the right platform and vision to build a nationwide chain of multiplexes with 150 screens in the next 3 - 4 years
- Shringar is known for high level of professionalism, integrity, innovation and experience which were well aligned with IVFA’s values
- Helped in attracting high quality management team
- Significant organizational and process improvements
- Participated with management in negotiating long term sourcing agreements
- Supported in Developing strategy for film exhibition business and identified 3 - 4 multiplex projects
- Developed marketing strategy for film exhibition business and doubled non-ticket revenues
“IVFA has been an invaluable partner to us in the time that we have been associated. Indeed more valuable than the investment has been the support and the guidance that they have given us in terms of helping us re-align our business to face the challenges of the coming years." Shravan Shroff - Managing Director, Shringar Cinemas Limited
Detailed information on the Company is available at
www.fame.co.in
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