PVR has received an approval for the proposed composite scheme of arrangement to merge production business undertaking of PVR Pictures with the company and to carry financial restructuring. The company has received an approval at its board meeting held on August 08, 2011.
Recently, PVR had purchased entire 40% equity share capital of PVR Pictures from JP Morgan Mauritius Holdings IV and India Advantage Fund V. Pursuant to purchase, PVR Pictures had become a wholly owned subsidiary of the company.
PVR is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain. It currently owns 101 screens across 14 cities and many more are in the offing.
