PVR set to buy Sathyam Cinemas for Rs 700-1000 cr: Report

New Delhi: Ajay Bijli led PVR group is looking to acquire Chennai's premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas, for about Rs 700-1000 crore, reports suggest.If everything goes well this could
pvr set to buy sathyam cinemas for rs 700 1000 cr...
India TV Business Desk 12 Jan 2015, 01:24 PM IST

New Delhi: Ajay Bijli led PVR group is looking to acquire Chennai's premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas, for about Rs 700-1000 crore, reports suggest.

If everything goes well this could be India's biggest deal in the multiplex sector. The deal would involve 40 screens, located predominantly in the Southern metro.

Following this report, PVR Ltd rallied as much as 4.6 per cent in trade on Monday to hit its fresh 52-week high of Rs 751. At 1:25 pm, the share was trading at Rs 738.20, up 2.76 per cent.

 
   
 

More from business