Carnival Group to invest Rs. 700 crore to expand multiplex network.

Media and entertainment firm Carnival Group will invest up to Rs. 700 crore this fiscal to add 175 multiplex screens mainly through acquisitions. In order to fund its expansion programme, the group is in talks with two private equity firms based in Singapore and London to raise around Rs. 350-400 crore. 'Our vision is to have 300 screens by end of this fiscal. We will invest Rs 600-700 crore to add 175 multiplex screens,' Carnival Cinema MD Shrikant Bhasi told . At present, Carnival Cinemas operates 125 screens across the country.



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