PVR has received approval for the acquisition of 71.69% of the paid up share capital of SPI Cinemas (SPI) involving the acquisition of 1,91,534 equity shares constituting 61.65% of the paid up equity share capital of SPI from SS Theatres LLP and 31,177 equity shares constituting 10.04% of the paid up equity share capital of SPI from SV Swaroop Reddy, respectively for an aggregate consideration not exceeding Rs 6,33,00,00,000.
The meeting of the Board of Directors of the company held on August 12, 2018 approved the same.
PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.
