PVR Cinemas will make an investment of up to Rs 350 crore to open 100 new screens in FY23.

The company also expects its merger with Inox Leisure to close by February 2023, after which it will start to run as a combined business.

About 60 per cent of the new screens will be in cities where the company already has a presence, while the rest will be in newer ones.

It intends to expand to Rourkela, Dehradun, Vapi, Chennai, Coimbatore, Thiruvananthapuram and Ahmedabad. The investments will be funded by cash balances from internal accruals and also some debt.

The company is not looking at any inorganic growth opportunities right now and will be focusing on getting the merger with Inox.

The company inaugurated a new six-screen presence in Hinjewadi area, Pune, the sixth property in the city. It is scouting for more locations in the Pune market.

here is company details.

 

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