Yet, some analysts say he might have over-leveraged himself to finance the deal.
And, that he has paid too much, about Rs 4 crore for each screen, nearly a double of what building a new screen would cost.
But, Bijli says the premium is justified, as a new screen would take at least 12-24 months to build, and the acquisition cuts the go-to-market time drastically.
Also, Cinemax has locations which are very hard to get.
Bijli says he is looking for an Ebitda (earnings before interest, tax, depreciation and amortisation) margin of 25 per cent at the unit level and a payback after three to four years, which should sail him through.
But, for now, Bijli wants to ensure that he does not lose the substantial lead that the acquisition of Cinemax has given him (his nearest competitor, the Inox-Fame combine, has 256 screens).