India’s PVR Buys Stake in iPic U.S. Luxury Theater Chain

India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit.

The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors.

Neither the scale of the finance, nor the size of the share stake were revealed. However, PVR said that its chairman and MD Ajay Bijli is expected to be granted a seat on iPic’s board following the company’s initial public offering. IPic has previously announced plans to file a Regulation A+ IPO.

IPic operates a casual restaurant, a bar and 16 luxury theaters, with a combined 121 screens, in 10 states. “iPic’s multi-faceted guest experience of dining, drinking and watching a movie in a luxurious setting, supported by ever changing Hollywood movies and other non-traditional content (such as concerts and eGaming) has helped to create a differentiated brand,” PVR said in its statement.

IPic last year grabbed headlines following a deal with Netflix that saw it announce plans to screen 10 movies in its theaters simultaneously with their debut on the streaming platform. The National Association of Theater Owners warned against breaking down the traditional release windows.

More Film

  • Johnny Depp Amber Heard

    Johnny Depp, Amber Heard Appear Moments Apart at WB's Comic-Con Panel

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

  • Patty Jenkins, Chris Pine and Gal

    'Wonder Woman 1984' Team Talks '80s Setting, Chris Pine's Resurrection

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

  • Aquaman

    First 'Aquaman' Trailer Makes a Splash at Comic-Con

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

  • Shazam trailer

    'Shazam!' Trailer Debuts At Comic-Con (Watch)

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

  • Godzilla King of the Monsters

    'Godzilla: King of the Monsters' First Trailer Stomps Into Comic-Con

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

  • 'Fantastic Beasts: The Crimes of Grindelwald'

    'Fantastic Beasts 2' Comic-Con Trailer Introduces Nicolas Flamel

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

  • Generation Wealth

    Lauren Greenfield on How 'Generation Wealth' Perfectly Foreshadows the Trump Era

    India’s largest cinema operator, PVR Limited is to buy a minority stake in iPic Gold Class Entertainment, the U.S. luxury theaters circuit. The deal was announced to the Bombay Stock Exchange on Thursday after being approved by the PVR board of directors. Neither the scale of the finance, nor the size of the share stake […]

More From Our Brands

Access exclusive content