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INOX makes third acquisition in a decade as it takes over Satyam chain of multiplexes
NEW DELHI: The total number of screens under the INOX umbrella has gone up to 514 screens in 127 properties in 64 cities after the acquisition of Satyam Cineplex for Rs 182 crore.
INOX Leisure executed the transaction documents for acquisition of the New Delhi headquartered Satyam chain by way of acquiring 100 per cent equity share capital of Satyam from its existing shareholders, 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.
This marks the third acquisition for INOX in less than a decade. “Earlier, the company acquired Calcutta Cine in 2007, which triggered the consolidation phase in the multiplex industry. This was followed by the acquisition of Fame India in 2010,” INOX CEO Alok Tandon told indiantelevision.com.
“The current acquisition would add 38 screens to INOX’s property,” he said.
As INOX would be paying Rs 182 crore towards acquisition of these properties, the valuation of each screen works out to Rs 4.79 crore.
He strongly denied charges that all multiplexes are highly priced, thus making them inaccessible to the average cinegoer. He said his group adopted what he called ‘flexi-pricing’ which allowed them to fix different rates for different days. Thus, the weekend may be expensive, but the price of the ticket on week-days starts from as low as Rs 55.
Asked about creating a buzz about the new acquisitions, he said apart from press meets, print and social media would also be used to publicise the new takeover.
Earlier, Tandon said at a press meet, “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 added.
INOX group director Deepak Asher 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.”
Sounding optimistic about the current acquisition, he went on to add, “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.”
Satyam MD Deven Chachra said, “We have painstakingly built this business, and while it is hard to see that one has built with one’s own hands go, I have confidence and faith that INOX will nurture it and take it to greater heights.”
Grant Thornton Advisory acted as sole financial advisors and Khaitan & Co acted as legal advisors to INOX Leisure. BMR Advisors acted as sole financial advisors and Luthra & Luthra Law Offices acted as legal advisors to the shareholders of Satyam Cineplexes.
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FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
