PVR to invest Rs 100 cr in three years

Entertainment firm PVR today announced its foray into the fashion bowling business in a joint venture with Thailand-based Major Cineplex Group and has plans to invest Rs 100 crore over the next three years for opening 500 bowling lanes across the country.

The two companies have entered into a 51:49 JV to bring the global fashion bowling brand 'Blu-O' into the country.

"We have entered into a JV with Major Cineplex Group and our plan is to invest Rs 100 crore over the next three years to open 500 bowling lanes across the country under the Blu-On brand. Our aim is to bring fashion bowling to Indian consumers," PVR Chairman and Managing Director Ajay Bijli told reporter here.

He said the investment would come from the JV companies internal accruals.

Major Cineplex operates Blu-O in Thailand and under the JV, the brand would be jointly managed in India between Major Cineplex and PVR.

"This is part of our effort to evolve PVR from a film entertainment company to a retail entertainment player with a focus to enhance the out of home entertainment experience for our patrons," Bijli said.

The company would focus on metros and Tier I cities for opening the bowling lanes, he added.