In a major boost to the film and entertainment industry, PVR-Inox merger has been approved by the National Company Law Tribunal. The NCLT judge has approved the scheme of merger in a verbal order. A written order is likely to be passed in the next 15-20 days. On March 27, PVR and Inox Leisure announced their merger, which has already been approved by their respective shareholders, creditors as well as leading bourses NSE and BSE.
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More About This Merger:
The merger of PVR-INOX has been much talked about since 2022. It must be noted that being the country’s top multiplexes, both INOX and PVR were also front-running competitors. The two companies’ boards — the country’s largest multiplex chain operators — approved an all-stock merger to create a film exhibition entity with a network of more than 1,500 screens. The share-swap ratio in the merger stands at three shares of PVR for 10 shares of Inox — which means investors will get three shares of PVR for every 10 INOX shares held.