iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

BSE and NSE have approved the merger of PVR and INOX

26 Mar 2024 , 03:13 PM

PVR and INOX Leisure, two multiplex operators, announced on Tuesday that the NSE and BSE have approved their merger. "In regard to the scheme of merger, the firm has obtained observation letters with 'no adverse observations' dated June 20, 2022, from BSE Ltd and observation letters with 'no objection' dated June 21, 2022, from the National Stock Exchange of India Ltd," PVR stated in a regulatory filing.

INOX verified this in a regulatory filing that was similar. A 'no objection certificate from the exchange is required before any scheme of merger can be approved by the National Company Law Tribunal and other regulatory bodies.

PVR and INOX Leisure announced a merger pact on March 27 this year to form the country's largest multiplex chain, with a network of over 1,500 screens, to capitalize on prospects in tier III, IV, and V cities, as well as developed markets. The merged company will be known as PVR INOX Ltd, with current screens continuing to be branded as PVR and INOX, respectively. PVR INOX will be the name of new theatres that operate after the merger, the firms said on March 27.

According to the agreement, INOX will combine with PVR in a share-swap ratio of 3 PVR shares for every 10 INOX shares. INOX promoters will join the existing promoters of PVR as co-promoters in the amalgamated firm after the merger.

PVR promoters will own 10.62 percent of the merged firm, while INOX promoters would own 16.66 percent, according to the statement.

Related Tags

  • BSE
  • NSE
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Images
28 Mar 2024   |   01:02 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.