Gurugram-based film theatre chain, PVR on Friday introduced the discontinuation of operations of 23 screens throughout 9 properties. These screens had been discontinued because of the expiry of their lease with Cineline India.
The screens had been discontinued on March 31, 2022.
Up to now, PVR operates a cinema circuit comprising 848 screens at 172 properties in 73 cities (India and Sri Lanka).
On BSE, PVR shares closed at ₹1914.70 apiece down by 0.33% right this moment. The shares traded between an intraday excessive and low of ₹1927.35 apiece and ₹1891.45 apiece respectively.
PVR is the market chief by way of display screen rely in India.
At the moment, PVR has stolen the limelight within the leisure trade as it should merge Inox Leisure with its ambit. The merger shall be carried in a share trade (“swap”) ratio the place 3 fairness shares of PVR shall be swapped for 10 fairness shares of INOX. The amalgamation will carry collectively two of India’s finest cinema manufacturers to ship an unparalleled client expertise with a community of greater than 1500 screens.
The mixed entity shall be named PVR INOX Restricted with the branding of present screens to proceed as PVR and INOX respectively. New cinemas opened put up the merger shall be branded as PVR INOX.
Supply: Live Mint