PVR is planning to purchase 69% stake owned by Cinemax’s promoters, Rashesh Kanakia for Rs 500 crore, followed by an open offer for another 26%. After this deal, which is expected to be closed next week, PVR will become India’s largest multiplex operator.
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.
