Warburg Pincus Invests in India’s Movie Theaters

New York City-based private equity firm Warburg Pincus, LLC., has acquired a 14% stake in PVR Limited, India’s largest cinema chain headquartered in Gurgaon, for about $120 million. The stake was bought from PVR’s existing investors, private equity firm Multiples Alternate Asset Management and PVR’s founders, including chairman and managing director Ajay Bijli.

“The Indian film and entertainment market is expanding rapidly and we look forward to supporting Ajay and the entire management team during the next phase of growth,” said Vishal Mahadevia, Warburg Pincus India managing director and co-head.

PVR Cinema

The Hollywood Reporter quotes a report by consultancy firm PricewaterCoopers, that says box-office revenue in India is estimated to reach $2.74 billion in 2020, up from $1.64 billion in 2015, growing at an average annual rate of 10.9 percent, even though India still remains a market with low screen penetration.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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