Categories: Business

NCLT gives Approval for Merger of Multiplex Operators PVR and Inox

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.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

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.

Find More Business News Here