Hindi
PVR close to selling its Phoenix Mill property
MUMBAI: PVR Ltd‘s plans to sell off its multiplex in the Phoenix Mill property for over Rs 1 billion may almost come through, what with talks with a few private equity funds in the race for the property going on.
PVR will, however, continue to run the multiplex in the same property by adopting the sale and lease back model. In this model, common in western countries, the company sells its property and then leases it back from the buyer.
The seven-screen multiplex at Lower Parel is part of a prime retail and entertainment destination in Mumbai. The Phoenix Mills property is owned by CR Retail Malls (India), a wholly-owned subsidiary of PVR.
Last September, the company had said that it was evaluating various options to fund its long-term expansion plans and may consider sale and lease back of the Phoenix Mill property as one of the options.
The strategy was to become an asset light company and use the funds generated to concentrate on growing its business through the organic leasing route.
Sources say that a deal is expected to be announced shortly. However, senior PVR executives were not available for comment.
Hindi
Rashmika Mandanna, Shanaya Kapoor and Naila Grrewal climb IMDb’s Indian celebrity rankings
Upcoming films and returning shows are driving fan interest across Bollywood and streaming
MUMBAI: Bollywood’s popularity contest has a new weekly scorecard, and the numbers are telling. IMDb’s Popular Indian Celebrities list for this week places Shanaya Kapoor at number six, buoyed by buzz around her film Tu Yaa Main. Naila Grrewal slots in at seven on the back of the returning comedy series Maamla Legal Hai, while Rashmika Mandanna climbs to eighth, riding mounting anticipation for Cocktail 2.
The list, available exclusively on the IMDb app for Android and iOS, tracks trending Indian entertainers and filmmakers each week, drawing on data from more than 200m monthly visits to the platform worldwide.
Further down the rankings, Raaka is keeping two of its biggest names in the spotlight. Deepika Padukone holds 11th position, with Allu Arjun close behind at 13th, as the film continues to find traction with audiences.
The list offers fans a weekly pulse on who is breaking through, who is holding steady, and who is fading. It is a barometer as unsparing as the box office itself.
