The company, which has distributed blockbusters like 'Lagaan', is planning to set up 7 multiplexes with 28 screens next fiscal in Mumbai, Pimpri, Surat, Kolkata, Thane,Aurangabad and Hyderabad, Shringar, Shravan Shroff, managing director said.
Shringar, which has three multiplexes in Thane, Malad and Andheri with 14 screens at present, is also holding negotiations to set up three multiplexes in the national capital region, he said.
It is looking at opening multiplexes in Punjab, Uttar Pradesh and south India during 2006-07. In all, it has plans to set up multiplexes with 150 screens by 2010.
The company, which recorded a net loss of Rs 1.23 crore (Rs 12.3 million) during the first nine months of this fiscal, has shifted its focus from guarantee-based distribution business to one based on commission, besides increasing its focus on multiplexes.
Generally, big-budget movie makers insist on guarantee-based distribution and only small budget productions agree to commission-based business.
The company has also tied up with UIP, distributors of Hollywood banners like Universal Studios, Paramount Films and Dreamworks, to distribute their movies in western India.
It has fixed a price band of Rs 47 to Rs 53 a share of Rs 10 each for the IPO, which will open on April 5 and close on April 11.
