PVR Inox Shares In Focus: Karnataka Government Issues Notification To Cap Cinema Hall Tickets At Rs 200

PVR Inox Ltd. share will be in focus on Wednesday after the Karnataka government issued notification to put a ceiling of Rs 200 on cinema hall tickets including multiplexes for all language films. A draft notification to this effect was issued on Tuesday.

During his 16th state Budget speech on March 8, Karnataka Chief Minister Siddaramaiah announced that the state will cap movie ticket prices at Rs 200 across all theatres and multiplexes in the state, in a move to make cinema more affordable for audiences. "This limit applies to all films, regardless of language, shown in multiplexes within Karnataka," he shared.

"Provided that the cost of the ticket of each show in all theatres of the state including multiplexes for all language films shall not exceed Rs 200 inclusive of entertainment tax," the notification said.

PVR Inox has more than 215 screens in Karnataka, accounting for more than 12% of the company's total screens.

The notification highlighted that any objection and suggestion which may be received by the state government from any person with respect to the said draft within 15 days will be taken into consideration.

"Objections and suggestions should be addressed to the Additional Chief Secretary to Government, Home Department, Vidhana Soudha, Bengaluru," it added.

Additionally, during his budget speech Siddaramaiah announced measures to promote Kannada cinema, including officially recognising it as an industry. This designation ensures that the cinema sector will now receive the same benefits as other industries under the Karnataka Industrial Policy.