Mumbai: Sajid Nadiadwala’s Nadiadwala Grandson Entertainment is planning to acquire approximately 100 single screen theatres in India.
NGE, along with Khalsa Motors managing director Jagdev Singh recently acquired a theatre in Rajasthan’s Falna.
Singh says, "Yes we are planning to acquire five to ten single screen theatres in Rajasthan alone. The theatres will be renovated with hi-tech digital sound and picture quality. We will also provide other state of the art facilities in the theatre."
Nadiadwala and Singh are also planning to construct a multiplex called Newplex in Jodhpur, Rajasthan. "The name Newplex is derived from Sajid Nadiadwala’s Entertainment Workshop Pvt. Ltd. It is going to be the best multiplex of India," Singh said.
Nadiadwala recently also announced his intent to acquire a 50 per cent stake in a television channel for Rs 1 billion (Rs 100 crores). The official announcement is likely to be made soon.
Nadiadwala says, "This acquisition is an important step from our company, towards consolidation in the television industry. We are confident that this will add immense value to the company and also strengthen our company profile. We have other expansion plans which we will announce shortly."
He added, "Nadiadwala Grandson has remained rock steady because it has always given quality entertainment for the family. The banner has always made universal film with total dedication and creativity at the highest level. We have created success stories in romantic comedy genre’. But today there is boom in the market and our new mantra is to diversify and explore business of different genres. Today my company has invested in television tomorrow it could be the media. The sky is the limit."