PVR has received approval from its shareholders for the scheme of merger with rival Inox Leisure. In June this year, both PVR and Inox Leisure had received clearance for their merger from bourses NSE and BSE.
On March 27, PVR and Inox Leisure announced the merger to create the largest multiplex chain in the country with a network of more than 1,500 screens to unlock the opportunities in tier III, IV and V cities, besides in the developed markets. The combined entity will be named PVR INOX with the branding of existing screens to continue as PVR and INOX.
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.
