PVR Ltd said on Thursday it will open two new multiplexes in Maharashtra on Friday.
The company informed the Bombay Stock Exchange the multiplexes would be located at Latur and Aurangabad with three screens each.
The Latur multiplex would have 1,148 seats and the Aurangabad multiplex would have a sitting arrangement for 1,151 people, the multiplex cinema operator added.
With the opening of these multiplexes, the total number of screens of the company would go up to 76 with an aggregate seating capacity of 19,454.
Both multiplex projects are eligible for exemption of entertainment tax for five years as per terms of the Entertainment Tax Exemption Policy applicable in Maharashtra.
The company recently launched a new brand of cinemas -- 'PVR Talkies' -- to provide enhanced cinema exhibition experience to viewers of B and C class cities at a lower price range of Rs 40 to Rs 60.
Shares of the company were trading at Rs 254.95, down 0.06 per cent at the BSE.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
