Mumbai-based film processing laboratory, Adlabs Films Ltd, which is opening India's first IMAX theatre in partnership with the Canadian large-format pioneer, plans to raise $12m via an IPO on the Mumbai Stock Exchange.
Adlabs said it would use the proceeds of the issue to part-finance the Mumbai IMAX complex, which is scheduled to open this month, and modernise its Mumbai processing facility.
Adlabs expects most of its revenues for the next two years to come from its processing business. It has a virtual monopoly in the processing of prints of Hindi films, and has processed worldwide hits such as Fiza, Mohobattein, Mission Kashmir, Border and Taal.
The 520-seat IMAX cinema will also house four regular theatres. Entry will be charged at $3 for adults and $1.50 for children under 12 years of age. Adlabs is also considering setting up a similar IMAX theatre in Delhi.