MUMBAI: Shringar Cinemas Limited has acquired the Shankar Nag theatre in Bangalore in a closed offer bid issued by the Bangalore Mahanagara Pallike.
Shringar has completed the formalities and the property has been handed over from Friday, it is learnt.
The theatre will now be shut down for renovation for three months. Shringar Cinemas expects to re-start this property under the Fame brand name in August 2007 with 560 seats, including the multiplex chain’s trademark gold class seats.
This single screen property, along with Fame’s proposed four screen mutliplex which is expected to start operations soon at Lido centre, Old Madras Road in Bangalore, is expected to give Shringar Cinemas Limited a strong presence in Bangalore.