Shares of cinema giant PVR touched a new 52-week high after rallying over 5 percent on reports that the group will acquire Chennai’s premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas
“The Ajay Bijli led PVR group seems set to acquire Chennai’s premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas. The deal may close for a rather steep valuation of approximately Rs 750-1,000 crore for just 40 odd screens, located predominantly in the Southern metro,” moneycontrol.com said quoting a media report.