Movies
Cinema exhibition chain Carnival Cinemas in talks to raise equity
Mumbai: Mumbai-based cinema exhibition chain Carnival Cinemas is in the initial stages of raising equity of Rs 400 crore, as per a report by Hindi Businessline. Carnival Cinemas is the second-largest theatre chain after PVR-Inox with 450 screens present nation-wide.
The cinema chain is in talks with its sole lender Yes Bank as well as public and private equity funds to raise money to expand to another 118 screens. The entity is expected to make a formal announcement of the fund raise in 60-90 days.
The company owned by Dr. Shrikant Bhasi, always had plans for further expansion, especially after the record revenues of 2020. They have waited for the resolution of the pandemic before introducing private equity investors.
According to a source, “To raise funds, Carnival Cinemas worked with Yes Bank, with whom they have a long-standing relationship, whereby the bank has always supported and believed in the business. Yes Bank has started its process to take equity and enable Carnival Cinemas to move towards its vision of 1,000 screens.”
An official from Carnival Cinemas who refused to be named stated, “We are the market leaders in tier III and tier IV markets and are the only mass cinema chain in India whose vision is to open and operate a large number of screens. This debt restructuring would close within 60-90 days.”
Hindi
Jio Studios, Sanjay Dutt team up to revive Khal Nayak
Rights acquired for new version, format under wraps as remake plans take shape.
MUMBAI: The villain is back and this time, he’s rewriting his own script. Jio Studios has partnered with Three Dimension Motion Pictures and Aspect Entertainment to revive the 1993 cult classic Khal Nayak, marking a fresh chapter for one of Bollywood’s most iconic anti-hero stories. The original film, directed by Subhash Ghai under Mukta Arts, was a commercial and cultural milestone, with Sanjay Dutt’s portrayal of Ballu becoming one of Hindi cinema’s most memorable performances.
Dutt, along with Aksha Kamboj, has now acquired the rights from the original creators, bringing on board Jio Studios and its President Jyoti Deshpande to steer the project creatively.
While the exact format whether remake, sequel, prequel, or a completely new narrative remains undisclosed, the collaboration aims to reinterpret the story for contemporary audiences while retaining the essence that made the original a defining film of the 1990s.
The move taps into a broader industry trend of reviving legacy intellectual property, particularly characters with strong recall value. “Khal Nayak” was notable for pushing mainstream Hindi cinema into morally grey territory at a time when heroes were largely one-dimensional, making Ballu’s character a standout.
The project also marks the film production debut of Aspect Entertainment, signalling a push towards more technology-led storytelling frameworks. Meanwhile, Jio Studios continues to expand its slate, having built a library of over 200 films and series, with more than 60 titles collectively winning 500-plus awards.
For Dutt, the revival is as much personal as it is strategic, a return to a role that reshaped his career. For the industry, it is another sign that nostalgia, when paired with scale, remains a powerful box-office proposition.
Because in Bollywood, some villains never fade, they just wait for the perfect comeback.
