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Our Bureau

Mumbai , April 19

INTERNATIONAL firm BSMA Ltd has acquired a 7.5-per cent stake in Adlabs Films Ltd for $6 million. The investment was made at Rs 150 per share.

The proceeds of this deal will be used towards expansion plans of the multiplex division of Adlabs. The company is targeting to set up 30 multiplexes amounting to 150 screens across India in next 4-5 years.

It is adding 22 screens by the end of 2005 taking the total operating screen count to 40.

It has recently launched Gold Adlabs, a three-screen multiplex in Pune and would be adding Huma Adlabs, a four-screen multiplex situated at Powai, to its multiplex properties in Mumbai in immediate future.

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