It is a blockbuster showing as the two largest movie screen owners are set to merge creating a new mega entity PVR Inox, So if you are a shareholder of either companies, here is what you need to know-:
Also read/watch | PVR, INOX announce merger: The mega deal to fight off the OTT obsession
- An all-stock amalgamation of INOX with PVR
- INOX shareholders will receive 3 shares of PVR for 10 shares of INOX.
- Post the merger, INOX Promoters will have 16.66% stake, while PVR promoters will have 10.62% stake in the combined entity.
- Promoters of INOX will become co-promoters in the merged entity
- PVR currently operates 871 screens across 181 properties in 73 cities
- INOX has 675 screens across 160 properties in 72 cities.
- The next competitor Cinepolis runs 472 screens across India vs 1500 screens by the merged entity
- Ajay Bijli appointed MD, Sanjeev Kumar Executive Director
- PVR stock at doubled in the last one year. Inox stock had hit a recent low of Rs 150/share in May 2020, up over 3x since then
- INOX had posted a revenue of Rs 296.47 crore and a loss of Rs 1.31 crore for the quarter ended December 2021. PVR made a loss of Rs 24.53 crore on a turnover of Rs 546.94 crore for the third quarter