But, that does not worry Bijli too much, because the deal gives him immense clout with producers who are known to squeeze a large share of the revenue from exhibitors.
After all, Bijli will control over a third of the 1200-1300 multiplex screens in the country and as much as 20 per cent of all box office revenues.
So, no producer can afford not to screen his movies in his halls and get a blockbuster hit.
And, any big-budget movie, which is generally shown in over 1000 screens, has no option but to deal with PVR.
In other words, Bijli can make or break a movie. PVR will be able to recover a part of the investment in Cinemax from the producers.
Bijli, on his part, underplays his new-found clout with the producers and says the real gain from the Cinemax acquisition is that it will give him geographical reach, as well as strengthen his position in many key markets.
For instance, it will help him expand his footprint from 27 to 36 cities in one go.
Also, it will make him the uncrowned king of Mumbai - one of the most lucrative movie markets in the country - after being the biggest player in Delhi for many years.
PVR will more than double its overall seat capacity from 8222 to 19999 in Mumbai, as Cinemax is a strong player with properties in excellent locations.
PVR will also be able to enter new markets, where it had no presence before the acquisition: Nashik, Malegaon, Rajkot, Kochi, and Kanpur, for instance.
Image: Actress Nargis Fakhri (left) with Bijli.