Hotline: 1800 102 2007
Hotline: 1800 102 2007
Aug, 13 2018

PVR Acquires South India-based SPI Cinemas for Around Rs 8.5 Billion

As per the deal PVR will acquire 71.7 percent of SPI including 222, 711 equity, shares of SPI Cinemas.

PVR Acquires South India-based SPI Cinemas for Around Rs 8.5 Billion

Multiplex chain PVR Ltd has made an announcement that it is going to acquire South India’s largest premium cinema exhibitor, SPI Cinemas Private Ltd for over Rs. 860 crore.

As per the deal PVR will acquire 71.7 percent of SPI including 222, 711 equity, shares of SPI Cinemas. However as per the two companies, both of SPI’s key executives, Kiran M Reddy and Swaroop Reddy, will continue to be associated with the business and will provide strategic guidance in integrating the business with PVR and create value for all the stakeholders.

SPI Cinemas holds a key market in South Indian states, which includes Andhra Pradesh, Telangana, Tamil Nadu, Kerala, Karnataka and Mumbai.

Post the acquisition, PVR’s total screen count will increase to 706 screens across 152 properties and 60 cities. The acquisition will also propel PVR as the 7th largest cinema exhibitor in the world in terms of annual admissions at its theatres, which will be in excess of 100 million.

SPI Cinemas, PVR said, has the highest occupancies across all organised multiplex chains in the country and is expected to achieve annual admissions of approx. 16-17 million in FY19 and revenues of Rs 410- 420 crore.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Cosmetics & Beauty Product Stores
    Woloo-Women’s Powder-Room is a hygienic place for women of all..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Pathological Labs
    We are amongst the first few companies in India to..
    Locations looking for expansion Haryana
    Establishment year 2014
    Franchising Launch Date 2021
    Investment size Rs. 50lac - 1 Cr.
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Financial Investment & Trading
    We are one of the fastest-growing financial advisory companies in..
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Healthcare & Medical Products
    About Us: Hippnation started as India’s first online powered brand and..
    Locations looking for expansion Delhi
    Establishment year 2020
    Franchising Launch Date 2016
    Investment size Rs. 10000 - 50000
    Space required 150
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater New delhi Delhi
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities