Miraj chain of multiplexes is not on sale. A top official of the multiplex chain clarified this to Information. A national daily today (7th June) sent shock waves in trade circles when it carried a story that the owner of the Miraj group of multiplexes was contemplating exiting the business due to lack of profits. According to the story, the lockdown had only made matters worse for the chain.
However, Amit Sharma, managing director of Miraj multiplex chain, said that there was no truth in the said story. He revealed that the cinema chain had been toying with the idea of liquidating a minority stake to a private equity fund but that was before the coronavirus lockdown began. “Those plans have all been thrown off-track due to the lockdown,” explained Sharma. He added, “But there’s no truth whatsoever in the news that the chain is up for sale or that we are in negotiations with another chain of multiplexes. We are very much in the business.”