Indian multiplex cinema operator PVR is looking to raiseUS$ 33 million via an IPO to finance new cinema projects and expand its filmdistribution business.
The company plans to expand its footprint to Mumbai,Chennai, Ludhiana, Aurangabad, Hyderabad, Indore, Gurgaon, Lucknow, and Latur,besides Delhi.
PVR, a pioneer of multiplex development in India, is thelargest cinema exhibition player in the country. Beginning commercialoperations in June 1997 with the launch of PVR Anupam in Saket, the company hasgone on to command a significant presence in New Delhi and currently operates39 screens in India. In total, India has 170 multiplex screens and 12,000cinema screens.
PVR has also ventured into film distribution, and set upPVR Pictures to release films such as Chicago, Spy Kids 2, WeddingPlanner, George Clooney's Confessions Of A Dangerous Mind andQuentin Tarantino's Kill Bill.