PVR to receive Rs 350 crore as advance payment under these arrangements
PVR has on 02 August 2018 renewed it non-exclusive arrangements with Paytm and Bookmyshow, online ticketing aggregators for booking and selling PVR Cinema's ticketing inventory, through their web and app based platforms for a term of 3 years.Under these arrangements, PVR is entitled to receive from these aggregators an aggregate amount of Rs 410 crore towards minimum guarantee and refundable deposit for booking PVR Cinema's ticketing inventory on their ticketing platforms, subject to other terms and conditions of the agreements. Out of the above, PVR will receive an upfront advance payment of Rs 350 crore.
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