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Big Cinemas, operated by the Reliance ADAG group Adlabs, has announced that it will be adding 100 new screens over a period of one year.
"We are planning to add around 100 more screens in the next one year across India and abroad. We will also expand our studio facilities among other things," Adlabs Films CEO Anil Arjun said.
Big Cinemas, currently operates 457 screens across India, the US, Malaysia and the Netherlands.
Earlier today, Adlabs Films hasd announced that it has plans to rechristen itself as Reliance MediaWorks Ltd, as the new name will be the perfect reflection of the diversified global film and media services company.
The company plans to raise Rs. 600 crore via issuing rights, for which it is seeking regulatory approvals.
"We have got approval from the board for raising Rs 600 crore through rights offer of equity shares. We are awaiting regulatory approvals for the same. The funds raised will be utilised for our expansion plans," Arjun said.
The company's revenues have grown substantially after the acquisition of controlling stake by the Anil Dhirubhai Ambani group in 2005.
