Anil Ambani Group firm Adlabs Films, which operates cinema chain Big Cinemas, today said it will increase the number of screens by around 100 in the next 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, is one of the biggest cinema chains in the country and currently has 457 screens spread across India, the US, Malaysia and the Netherlands.
In another development, Adlabs Films said on Friday it will change its name to Reliance MediaWorks Ltd, which more accurately reflects its identity as a diversified global film and media services company.
The company also is in the process of getting regulatory approvals for bringing out its rights issue for raising up to Rs 600 crore (Rs 6 billion) to fund expansion plans.
"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.
Image: Anil Ambani
