Cineline India shares jump 5% as company monetizes Goa hotel asset for Rs 270 crore

Shares of Cineline India surged 4.99% to Rs 85.35 in early trade on Monday after the company announced the successful monetization of its Hyatt Centric hotel asset in Goa for an enterprise value of Rs 270 crore. The deal, executed with Sparsh Vidhyut, pertains to a property owned by Cineline India’s wholly owned subsidiary, R&H Spaces.

As per the company’s statement, the transaction has enabled the firm to reduce Rs 120 crore of debt related to the hotel asset at the subsidiary level. The remaining proceeds will be used to fully repay Rs 108 crore of debt linked to the film exhibition business, enabling Cineline India to become debt-free.

CEO Ashish Kanakia said the move will help strengthen the company’s financial position, boost free cash flow, and support expansion through innovative strategies such as low revenue or profit-sharing screen additions. Since launching its MovieMAX brand in April 2022, the company now operates 77 screens and has tied up another 82 for expansion.

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