Launched in 1975, Shringar Films had quickly established a reputation for providing quality entertainment to movie audiences in India. Known for its astute judgment in spotting blockbuster films at the right price and its high ethical standards, Shringar Films had become the biggest film distributor in western India with an annualized return of over 40% via film distribution.
When True North partnered with the company in June 2001, it was well positioned to expand into exhibition of films and to develop a Pan-Indian distribution reach.
The partnership launched a new brand- Fame, and immediately opened 5 multiplexes with 20 screens and launched construction of another 25 multiplexes having 100 screens all over India. New programs were initiated to increase customer footfalls and loyalty while alternate revenue channels such as in-theatre advertising, and food & beverage sales were developed.
Though Shringar was already well aligned with True North’s values, there were significant organizational and process improvements on account of True North’s entry. A high-quality management team was inducted and strategies for expansion of the film exhibition business and non-ticket revenues were developed.
This rapid expansion enabled Shringar to launch an IPO in April 2005, which was oversubscribed 10 times. True North divested its stake in Shringar soon after.
Founder :- Shravan Shroff