Picturehouse Media Limited (BSE:532355) agreed to acquire 80% stake in New Cyberabad City Projects Pvt. Ltd for approximately INR 300 million on August 24, 2023. Transaction has been approved by Picturehouse Media Limited's board of director's. As of October 3, 2023, the majority shareholders of Picturehouse Media and PVP Ventures Limited voted in favor of the transaction.

Th approval from the shareholders of Picturehouse was pbtained vide postal ballot concluded on September 30, 2023.