PVR Inox Merger Deal PVR Inox Multiplex Merger Approved By Mumbai NCLT Know Details

PVR-Inox Merger Deal: A big change is going to happen in the multiplex industry of the country and the two largest multiplex chains of the country PVR and INOX Chain (PVR-INOX Chain) are going to merge. Now a big update regarding this merger (PVR-Inox Merger Update) has come. On Thursday, the Bombay Bench of the National Company Law Tribunal has given its approval for the merger of both multiplex chains ie PVR Limited and INOX Leisure.

After the merger, the company will have so many screens

After this approval, the name of these multiplex chains will be PVR-INOX. It will become the biggest film exhibitor of the country. After the merger, the company will have a total of 1,546 screens spread across 341 properties and 109 cities. Let us tell you that the already built theaters will be named PVR and INOX and the new theaters that will be built will be named PVR-INOX.

PVR-INOX will have 4,000 screens across the country

After the announcement of this merger (PVR-Inox Merger Deal), Sanjeev Kumar Bijli, Joint Managing Director of PVR, while giving information on this matter, said that after this merger, the company will start many new screens across the country and increase its number from 1,500 to 3,000. There is a plan to do from to 4,000. The company is planning to more than double the number of screens in the next five years. He said that we will start 200 to 250 new screens every year across the country. Along with this, he said that the company will increase the number of its screens in the North-East part of the country as well. Along with this, multiplexes of PVR-Inox will also be set up in small towns of the country. Apart from India, PVR also operates in Sri Lanka and its total 9 multiplexes operate in the country.

Merger was announced in March 2022

Sanjeev Bijli told that his merger has got the approval of the shareholders of NSE and BSE. Both the companies are listed in the stock market. In such a situation, it was necessary to get the approval of the shareholders for this merger. Giving information about this merger, the companies have told that all the paperwork will be completed before the end of this financial year.

read this also-

If the employee did ‘disturb’ on a holiday, he would have to pay a fine of Rs 1 lakh, know where the rule is applicable?