PVR acquires entire 40% equity share capital of PVR Pictures

06 Jul 2011 Evaluate

PVR has 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 has become a wholly owned subsidiary of the company.

Recently, Film exhibitor and distributor PVR had sold its multiplex property at Phoenix Mills, Mumbai for Rs 100 crore to JM Financial’s arm. For this the company had entered into a pact with JM Financial's newly-launched Real Estate Income Fund. After the transaction is completed, PVR would continue to operate the multiplex property on a long-term lease arrangement basis.

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.

PVR Share Price

1381.80 -36.15 (-2.55%)
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Company Name CMP
PVR 1381.80
Saregama India 497.65
Eros Internatl.Media 15.13
Shemaroo Entertain. 160.10
Balaji Telefilms 79.92
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