IMAX and INOX first entered their partnership in 2016. One of the new theatres will open as the first IMAX location in Lucknow and the other city is yet to be announced.
IMAX has nearly tripled its theatre network in India over the last three years, from 15 open or contracted theatres in 2016 to 42 today.
Through the first half of 2019, IMAX theatres have generated more than $7.76 million at the box-office in India, up 18 percent over the first half of 2018.
Earlier this month IMAX announced that it would debut "Saaho" in IMAX theatres in India and select international markets beginning August 30.
"We are excited to take The IMAX Experience to more and more customers in newer markets with the signing of this deal," said Alok Tandon, Chief Executive Officer of INOX Leisure Ltd.
Giovanni Dolci, IMAX's Interim Head of Global Sales, added: "India has one of the most longstanding and vibrant cinema cultures in the world, and we will continue to bring the biggest blockbusters and events to its passionate audiences."
"We are grateful to INOX for our growing partnership and the opportunity to make The IMAX Experience available across key markets throughout the country."
IMAX theatres are now currently in operation in multiple Indian cities including Delhi, Mumbai, Bengaluru, Chennai, Gurugram and Noida, with more markets still to come.
( With inputs from IANS )