MUMBAI: Mukta Arts chairman Subhash Ghai is planning a foray into the exhibition business under the Mukta Cinemas brand.
The company is looking at investing approximately Rs 500 million (Rs 50 crore) over the next three years in the exhibition business. Plans are afoot to tie up with mall owners in Baroda, Ahmedabad and Bhopal, on a revenue-sharing model. Mukta Cinemas will be renting space instead of buying properties outright. The company plans to roll out 14 screens this financial year, with an investment of Rs 200 million (Rs 20 crore).
Mukta Arts CEO Ravi Gupta said, “After production and distribution, exhibition was the next logical step for us.”
The distribution arm of Mukta already controls the programming of 160 single-screen cinema halls and multiplexes, including Big Cinemas, Inox, Fame and several other chains and standalone properties.
