Satyam Cineplex goes further expanding outside Delhi

New Delhi-based multiplex operator Satyam Cineplexes will raise Rs 50 crore through a fresh round of private equity (PE) funding by October. The company will utilise the fund to expand outside Delhi, where it has a strong presence. The company plans to set up 70 new screens. Investments in these will be made over 18 months, utilising the PE fund. With rapid plans to expand outside Delhi, it will be opening multiplexes in Mysore, Aurangabad, Rohtak, Jodhpur and Udaipur by year-end. Satyam has 12 screens in Delhi and five in Indore. The expansion plan of the multiplex is a green signal to the signage companies including PSPs, fabricators, etc for a new business.