PVR Pictures Funded By ICICI Venture, JPMorgan For Rs 120 Crore

PVR Pictures, the film production and distribution arm of PVR Ltd has been funded for Rs 120 crore from ICICI Venture and JPMorgan reports VC circle. PVR also owns PVR Cinemas, the largest multiplex theater chain in India estimated to account for nearly 15 per cent of overall box office collections. PVR Pictures is a recent venture into film production with plans to release 8-10 movies per year from next year. However, the release doesn’t specify amount of equity nor the overall valuation.

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