PVR IPO to fund multiplexes, will add 82 screens

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PVR Limited, which runs a chain of multiplexes, will utilise the proceeds up to Rs 185 crore from its forthcoming IPO for launching 82 screens in 18 multiplexes by 2008, including a couple of low-cost digital cinemas which will reduce prices of tickets by half. A small part of the proceeds will also be pumped in for film distribution by a subsidiary of PVR Limited.