Pics courtesy Shutterstock/Republic World
New Delhi: PVR and Inox announced their merger on Sunday in what could be one the biggest business deals of the year.
“Merger to bring together two of India’s best cinema brands to deliver an unparalleled consumer experience with a network of more than 1,500 screens,” Inox said in a statement.
The combined entity of the multiplex giants, to be called PVR Inox Ltd, will operate 1,546 screens across 341 properties in 109 cities, said a joint statement, adding that the merger is subject to approval by both companies’ shareholders, Securities and Exchange Board of India (Sebi), stock exchanges.
While Inox will have a 16.66% stake in the new company, PVR will have 10.62% stake.
Existing screens will continue under the names of Inox and PVR, while those which will be opened post the merger will be called PVR Inox.
New Delhi/Bhubaneswar: Prime Minister Narendra Modi will participate in the ‘Odisha Parba 2024’ programme on…
New Delhi: A fresh application was filed before the Supreme Court on Sunday urging the…
Bhubaneswar: Chief Minister Mohan Majhi disbursed the first instalment of Rs 5,000 under Subhadra Yojana…
Bhubaneswar: The low-pressure over east Equatorial Indian Ocean (EIO) and adjoining southeast Bay of Bengal…
New Delhi: Cricket fans were left gasping for breath in December 2022 when Indian wicketkeeper-batter…
Puri: Repair work of Shree Jagannath temple's Ratna Bhandar in pilgrim town of Puri will…
Bhubaneswar: A 20-year-old married woman, allegedly kidnapped from Odisha's Nabarangpur and then raped, and held…
New York: Slamming the prolonged delays in some parts of United States, Elon Musk on…