Cineline India ties up additional 27 screens

Cineline India Ltd has acquired 27 additional screens on a lease basis of which 9 are in Uttar Pradesh, 6 in Rajasthan, 5 in Noida, 5 in Gujarat and 2 in Maharashtra. These theatres will have an aggregate seating capacity of more than 5,500 seats.

The Company will continue to grow its Film exhibition business aggressively in due course of time by acquiring theatre properties PAN India.

Commenting on the same, Mr. Rasesh Kanakia, Chairman, said "We are delighted to announce the tie up of additional 27 screens PAN India. With this, we have tied up with 75 screens and over 16,500 seats in total. We are seeing huge opportunity for organized players to increase their foothold and plan to create a strong consumer-oriented brand in this segment.

Over the next few months, we will continue to acquire additional screens PAN India. There is a strong pipeline of movies coming up and we see a huge opportunity to grow exponentially in this space."

Shares of Cineline India Limited was last trading in BSE at Rs. 119.55 as compared to the previous close of Rs. 109.05. The total number of shares traded during the day was 45767 in over 857 trades.

The stock hit an intraday high of Rs. 119.95 and intraday low of 110.00. The net turnover during the day was Rs. 5347302.00.

Source : Equity Bulls

Keywords

CinelineIndia INE704H01022 Screens Theatres FilmExhibitionBusiness Lease