Inox Leisure is reportedly in talks to buy Satyam Cineplexes for around Rs 220 crore, indicating further consolidation in the movie exhibition business. The company will raise the funds by offloading treasury stock. Yes Bank has been given the mandate to sell the treasury stock and look for acquisitions.
The acquisition of Satyam Cineplex will strengthen Inox Leisure’s presence in North India, a territory that is dominated by larger rival PVR. Ajay Bijli-controlled PVR overtook Inox by acquiring Cinemax India in November 2012 to become the largest multiplex operator in India.
INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India. INOX is India’s largest multiplex brand and with this launch, it is now present in 43 cities with 79 properties and 310 screens.
Company Name | CMP |
---|---|
PVR | 1409.30 |
Saregama India | 425.45 |
Eros Internatl.Media | 21.70 |
Shemaroo Entertain. | 170.35 |
Balaji Telefilms | 76.45 |
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