Cinemax India’s promoters’ through wholly owned subsidiary, Cine Hospitality, have entered into a definitive sale agreement with PVR, for the sale of their entire stake of 69.27%in Cinemax India. The sale has been completed for a total sale consideration of approximately Rs 395 crore at a price of Rs 203.65 per equity share.
Cinemax India operates one of the largest exhibition theatre chains in India with 36 properties with 123 screens. It is the largest multiplex chain in the Mumbai region. Cinemax runs ‘Red Lounge’ at Bandra, Versova and Thane.
