Shringar Cinemas to renovate "Shankar Nag" theatre in MG Road, Bangalore

Shringar Cinemas Ltd has announced that the Company has signed an existing single screen in Bangalore. This theatre has been won by the Company in a closed offer bid which was issued by Bangalore Mahanagara Pallike. The Company has now completed all the formalities and the property has been handed over from May 10, 2007.

This single screen, currently called "Shankar Nag", is located on MG Road which is a main arterial road in Bangalore. The theatre is located in the main commercial area of Bangalore.

This cinema will be shut down by the Company for 2-3 months for renovation & the Company expect to start this cinema in August 2007 with 560 seats and the same kind of standards with which people associate "Fame" with. It will have the gold class seats also. This cinema, along with the Company proposed 4 screen multiplex which is expected to start operations soon at Lido centre, Old Madras Road in Bangalore, would give the Company a very strong presence in Bangalore.

With this handover, the Company is currently fitting out 6 properties & 19 screens all over India.

Source : Equity Bulls

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