PVR Cinemas comes to Mulund in Mumbai
Televisionpoint.com Correspondent
PVR Cinemas has announced the acquisition of operating licence to strengthen its presence in Mumbai. The licence enables PVR to open its latest property PVR Mulund in Mumbai, taking its screen count to 68 nationwide, the largest in the country.
The multiplex, in accordance with the Entertainment Tax policy applicable in Maharashtra, would be eligible for 100 per cent entertainment tax exemption for a period of five years.
PVR Mulund, the largest multiplex in Mumbai with 6 screens and 1,815 seats will be PVR's second property in Mumbai. It is part of the company's expansion plan to strengthen its presence in Mumbai with two more multiplexes further slated to open in the city. Furthermore, the company aims to have 250 cinema screens nationwide, in a few years, an press release to the BSE says.
Commenting on the move, Ajay Bijli, Chairman and Managing Director, PVR Cinemas, said, "With leadership position in the Northern and Southern markets of the country, PVR aims to tap on the existing and the emerging potential of the western region."
Meanwhile, UTI Mutual Fund has acquired 5000 shares aggregating to 0.0219% of the total paid up capital of PVR, the mode of acquisition is through Open Market and the shareholding of UTI Mutual Fund after the said acquisition is 11,47,247 shares aggregating to 5.0142% of the total paid up capital of PVR.
PVR Cinemas has announced the acquisition of operating licence to strengthen its presence in Mumbai. The licence enables PVR to open its latest property PVR Mulund in Mumbai, taking its screen count to 68 nationwide, the largest in the country.
The multiplex, in accordance with the Entertainment Tax policy applicable in Maharashtra, would be eligible for 100 per cent entertainment tax exemption for a period of five years.
PVR Mulund, the largest multiplex in Mumbai with 6 screens and 1,815 seats will be PVR's second property in Mumbai. It is part of the company's expansion plan to strengthen its presence in Mumbai with two more multiplexes further slated to open in the city. Furthermore, the company aims to have 250 cinema screens nationwide, in a few years, an press release to the BSE says.
Commenting on the move, Ajay Bijli, Chairman and Managing Director, PVR Cinemas, said, "With leadership position in the Northern and Southern markets of the country, PVR aims to tap on the existing and the emerging potential of the western region."
Meanwhile, UTI Mutual Fund has acquired 5000 shares aggregating to 0.0219% of the total paid up capital of PVR, the mode of acquisition is through Open Market and the shareholding of UTI Mutual Fund after the said acquisition is 11,47,247 shares aggregating to 5.0142% of the total paid up capital of PVR.
Copyright 2005 - 2009 Televisionpoint.com. All rights reserved. A Bhash Media Private Limited Company.
This site is best viewed in Internet Explorer 6.0 or higher versions, at a resolution of 1024 x 768 pixels.