PVR is all set to acquire Chennai’s premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas, in what could end up to be the biggest deal in Bijli’s career as well for India’s multiplex sector. The deal may close for a steep valuation of around Rs 750-1,000 crore for just 40 odd screens, located predominantly in the Southern metro.
Last month Carnival Cinemas paid a little over Rs 700 crore to buy out Anil Ambani’s Big Cinemas that has 242 screens across the country.
PVR is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain.
