“Goenka has invested in his personal capacity to revitalize and enrich the single-screen experience for cinemagoers and fans across the country,” a statement from his office said, adding that “there is no impact on the company he heads.”
The investment will enable Maverick Media to unlock the potential of under-screen markets across the country, by building single-screen theaters in Tier II and Tier III cities, it added.
Commenting on the development, Goenka said that the potential of single-screen cinemas in various tier II and III cities is immense, and this infrastructure must be revived.
“This move enables a financially viable opportunity for cinema exhibition operators in key growth markets of the country,” he said.
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