PVP Screens accepts Rs 212.5 mn bid for cinema property

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PVP Screens, wholly owned subsidiary of Telephoto Entertainments, has concluded the public auction of its multiplex theatre property situated at Villivakkam, Chennai, the company said in a statement to the stock exchange

This includes land admeasuring about 16 grounds, together with building under construction, fittings, furniture, utilities, plant and machinery and other assets. Further, the highest bid received and accepted was of Rs 212.5 million.

PVP Screens is now taking necessary steps to complete the auction and other related formalities, the company said.

—IndiaRetailing Bureau

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