Inox plans to add 156 screens.

Leading multiplex chain Inox Leisure, which recently acquired Satyam Cineplexes and runs 358 screens, will be gradually adding another 156 screens over the next 12-24 months.

Acquiring Satyam Cineplexes has given Inox access to Delhi, Amritsar, Rohtak, Jodhpur and Mysore. 'This acquisition strengthens our position in all the leading markets as well as gives us wider penetration,' said Deepak Asher, Director, Inox Group of Companies.

'We are always looking at both organic and inorganic growth strategies. Besides the acquisition of 38 screens through the Satyam Cineplexes deal we expect to add 156 additional screens in the next 12-24 months, taking our overall screen count over 500 screens,' he said.

The company said it has largely funded this acquisition by raising debt. The ownership of the three properties in New Delhi’s Patel Nagar, Nehru Place, and Janakpuri will continue to remain with the promoters of Satyam Cineplexes and will be leased out to Inox for operations.

Out of the 156 screens, about 29 screens will come on board through the upcoming properties of Satyam Cineplexes, while the balance would come in from Inox’s own organic growth pipeline.

Archrival PVR Cinemas currently operates across 445 screens in 101 properties.


HBL