INOX Leisure
Corporate brand
UnclaimedIndian multiplex cinema operator that merged with PVR Cinemas in 2023.
Last updated August 21, 2026
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Overview
INOX Leisure was an Indian multiplex cinema company and the cinema-exhibition arm associated with the INOX Group. The company was incorporated as a public limited company in November 1999 and began commercial operations in 2002, opening four-screen multiplexes in Pune and Vadodara. It subsequently developed a national cinema network through new openings, acquisitions and the rollout of multiplex formats in major Indian urban and regional markets. The business operated under the INOX and INOX Movies brands and focused on theatrical film exhibition. Its activities included operating multiplex auditoriums, selling cinema advertising and providing food and beverage services to moviegoers. The chain’s offer was built around multi-screen venues located in shopping malls and other high-traffic commercial developments, with a positioning centered on a modern, premium cinema experience rather than on film production or conventional single-screen exhibition. INOX expanded beyond its initial western-India base during the 2000s. In 2004, it added multiplexes in Kolkata, Goa and Mumbai. In 2006, the company became publicly listed, with Gujarat Fluorochemicals selling shares through its initial public offering. That year, INOX also acquired 89 Cinemas, a business owned by Calcutta Cinema Private Limited, through a share-swap transaction. The deal gave INOX ownership of nine multiplexes in West Bengal and Assam and strengthened its presence in eastern India. The company later pursued further consolidation and portfolio expansion. It acquired Satyam Cineplexes for a reported consideration of ₹182 crore, obtaining cinemas in Delhi-NCR, Mysuru and other markets. In October 2022, INOX acquired Luxe Cinemas, an 11-screen premium multiplex at Phoenix Marketcity in Chennai, from Jazz Cinemas. These transactions complemented organic expansion and helped INOX build a geographically diversified cinema footprint. By December 2022, shortly before its combination with PVR Cinemas, INOX had 170 multiplexes and 722 screens across 74 Indian cities. Its principal revenue activities were cinema ticketing, advertising and concessions, while its venues also served as platforms for premium formats and entertainment-related partnerships. The company’s brand remained visible at properties established before the merger, even after the corporate combination. On 27 March 2022, INOX announced a merger with PVR Cinemas. The Mumbai bench of the National Company Law Tribunal approved the transaction on 12 January 2023, and the merger was completed in February 2023. The combined company was renamed PVR INOX. Newly opened properties after the transaction used the PVR INOX name, while existing cinemas generally retained their prior PVR or INOX branding. The merger ended INOX Leisure as a standalone listed cinema operator, although the INOX brand continued to be used across parts of the successor company’s network.
History
INOX Leisure was incorporated as a public limited company in November 1999 as part of the INOX Group, whose business interests included Industrial Oxygen and related industrial activities. The company entered cinema exhibition in 2002, when it opened four-screen multiplexes in Pune and Vadodara. These venues formed the foundation of a cinema chain designed around the emerging multiplex model in India, with several screens, contemporary facilities and a broader mix of ticketing and concession revenues than traditional single-screen theatres. The chain expanded geographically during the first half of the 2000s. In 2004, INOX added multiplexes in Kolkata, Goa and Mumbai, extending the brand beyond its initial western-India presence. The company went public in 2006, when Gujarat Fluorochemicals sold a stake through INOX Leisure’s initial public offering. The listing provided the company with a public-market structure during a period when multiplex operators were expanding across Indian cities and competing for space in new retail and mall developments. INOX used acquisitions as an important part of its expansion strategy. In 2006, it acquired 89 Cinemas, owned by Calcutta Cinema Private Limited, in a share-swap transaction. The transaction gave INOX control of nine multiplexes in West Bengal and Assam, reinforcing its position in eastern India. The company later acquired Satyam Cineplexes for a reported ₹182 crore. That transaction added properties in Delhi-NCR, Mysuru and other markets and broadened the chain’s national footprint. INOX’s business model combined film exhibition with ancillary activities. Its cinemas sold tickets for mainstream Indian and international releases, generated advertising inventory inside venues and earned concession revenue from food and beverages. The company also operated premium-oriented venues and multiplex properties located in shopping and entertainment complexes. This format enabled INOX to compete for consumers seeking a packaged leisure experience rather than only a film screening. The chain continued to grow through the 2010s and early 2020s. In October 2022, INOX acquired Luxe Cinemas, an 11-screen premium multiplex at Phoenix Marketcity in Chennai, from Jazz Cinemas. By December 2022, INOX reported a network of 170 multiplexes and 722 screens across 74 Indian cities. At that point, it was one of the country’s largest multiplex operators and a significant participant in the consolidation of Indian cinema exhibition. The decisive corporate event was the proposed merger with PVR Cinemas. INOX announced the transaction on 27 March 2022. The Mumbai bench of the National Company Law Tribunal approved the merger on 12 January 2023, and the combination was completed in February 2023. The resulting company was renamed PVR INOX and became India’s largest multiplex operator by the cited screen-count comparison. The transaction ended INOX Leisure’s existence as a separate listed company, but did not immediately eliminate the consumer-facing INOX identity: cinemas that had existed before the merger generally continued to use the INOX name, while new post-merger properties were branded PVR INOX.
- 2023
PVR–INOX merger completed
[1]After regulatory approval in January, the merger was completed in February and the combined company became PVR INOX.
- 2022
Merger with PVR is announced
[1]INOX announced on 27 March that it would merge with PVR Cinemas.
- 2022
Luxe Cinemas acquisition
[1]INOX acquired the 11-screen Luxe Cinemas multiplex at Phoenix Marketcity in Chennai.
- 2010
Satyam Cineplexes acquisition
[1]INOX acquired Satyam Cineplexes, adding multiplex properties in Delhi-NCR, Mysuru and other Indian markets.
- 2006
Public listing and acquisition of 89 Cinemas
[1]INOX went public, with Gujarat Fluorochemicals selling shares through the initial public offering. The company also acquired 89 Cinemas through a share-swap transaction.
- 2004
Expansion into Kolkata, Goa and Mumbai
[1]The chain added multiplexes in Kolkata, Goa and Mumbai as it expanded beyond its initial operating markets.
- 2002
First multiplexes open in Pune and Vadodara
[1]INOX began cinema operations by opening four-screen multiplexes in Pune and Vadodara.
- 1999
INOX Leisure is incorporated
[1]INOX Leisure was incorporated as a public limited company in November 1999 as part of the INOX Group.
Products and positioning
Modern and premium multiplex cinema operator serving Indian urban and regional markets.
Cinema exhibition · 2002
INOX multiplex cinemas
The core INOX offering was a network of multi-screen cinemas showing Indian and international films. Venues were designed to provide several simultaneous screenings, contemporary seating and a mall-oriented leisure environment. Ticket sales formed the central service, supplemented by in-cinema advertising and concessions. Existing properties continued to carry INOX branding in parts of the PVR INOX network after the 2023 merger.
Advertising
Cinema advertising
INOX cinemas provided advertising inventory associated with theatrical venues, including opportunities connected with screenings and the cinema environment. Advertising was an ancillary business activity alongside ticketing and concessions, although the available reference material does not specify particular advertising products or formats.
Cinema concessions
Food and beverage concessions
Food and beverage sales were part of the multiplex customer experience and an ancillary revenue stream. The offering served moviegoers during screenings and was integrated into the wider leisure proposition of INOX venues. Specific menus, sub-brands and pricing are not identified in the supplied reference material.
Premium cinema
Premium multiplex venues
INOX operated premium-oriented multiplex properties, including the Luxe Cinemas venue acquired at Phoenix Marketcity in Chennai. These sites formed part of the chain’s effort to serve consumers seeking an upgraded cinema and shopping-centre entertainment experience. The available sources do not provide a complete catalogue of INOX premium formats.
Brand decisions
2022
Decision to merge with PVR CinemasM&ABackground
INOX and PVR were major Indian multiplex operators, and their proposed combination would create a much larger cinema-exhibition company.
Action taken
INOX announced the merger on 27 March 2022. The transaction proceeded through the required corporate and tribunal approval process.
Aftermath
The Mumbai bench of the National Company Law Tribunal approved the merger on 12 January 2023. Completion in February 2023 resulted in the renamed PVR INOX and ended INOX Leisure’s status as a standalone listed operator.
2022
Acquisition of Luxe CinemasM&ABackground
INOX pursued further venue expansion shortly before its combination with PVR.
Action taken
INOX acquired Luxe Cinemas, an 11-screen premium multiplex at Phoenix Marketcity in Chennai, from Jazz Cinemas.
Aftermath
The acquired cinema became part of the assets ultimately brought into the PVR INOX combination in 2023.
Recent events
Reported
INOX Leisure reports Q4 and FY2020 results[2]
INOX Leisure reported financial results for the quarter and financial year ended March 31, 2020; its board took the results on record at a meeting on June 8.
Reported
INOX Leisure discontinues Pune multiplex operations[3]
INOX Leisure discontinued commercial operations of its multiplex cinema at Fun N Shop Mall on Pune Solapur Road in Pune, which had three screens and 1,015 seats, effective 1 February 2020.
Sources4 sources
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