Inox Leisure to merge with PVR in an all stock amalgamation

Inox Leisure to merge with PVR in an all stock amalgamation

  • The respective Board of Directors of multiplex chains PVR Ltd and Inox Leisure (INOX) have approved an all stock amalgamation of Inox with PVR. 
  • As per the deal, the shareholders of Inox will get three shares of PVR for every 10 shares held in the company.
  • Post merger, the combined entity will be named as PVR INOX Limited and the new cinemas opened post the merger will be branded as PVR INOX.
  • PVR Promoters will have 10.62% stake in the combined entity while INOX Promoters will have 16.66% stake.
  • Ajay Bijli would be appointed as the Managing Director of the merged entity.

Points to Remember:

  1. Share of PVR and INOX in the combined entity?
  2. Who will be the MD of the combined entity?

Source: Business Standard

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