PVR opens 4-screen multiplex in Vijayawada

Combined number of screens increased to 402, including 135 screens with Cinemax India, at 93 locations across 37 cities in 13 states and one UT

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As part of its organic growth strategy of pan-India expansion and increasing its presence in major cities, Gurgaon-based multiplex chain operator, PVR Limited, has opened a four-screen multiplex at Vijayawada in Andhra Pradesh.

With the opening of the new multiplex, the combined number of screens increased to 402 (including 135 screens with Cinemax India Limited) at 93 locations across 37 cities in 13 states and one Union Territory, PVR said in a filing to the BSE on Monday.

It may be recalled that PVR Limited had, in November 2012, acquired a 69.27% promoters’ stake in Cinemax India for Rs 394.98 crore, making it the top player in the Indian cinema exhibition space, surpassing Inox Leisure (along with Fame Cinemas) and Big Cinemas.

PVR Limited’s scrip is currently trading at Rs 628.25 on the BSE, up 0.27%, over the previous close of Rs 626.55 a share.