NCLT approves PVR-INOX merger


PTI, Jan 13, 2023, 10:06 AM IST

Credit: iStock photo

The National Company Law Tribunal (NCLT) on Thursday approved the amalgamation of the country’s top two multiplex chains — PVR Limited and INOX Leisure.

The Mumbai bench of NCLT has cleared the scheme of amalgamation between INOX Leisure (transferor) and PVR (transferee company), PVR said in a regulatory filing.

“NCLT, Mumbai Bench, has allowed the proposed scheme today ie 12th January 2023,” it said.

According to the filing, a copy of the detailed order is awaited and the same shall be disclosed as and when received by the company.

In October 2022, PVR received the nod from its shareholders for the merger with rival INOX Leisure.

Leading bourses NSE and BSE granted their approvals for the merger in June 2022.

In March last year, PVR and INOX Leisure announced the merger.

“We believe, the PVR-INOX (INOL) merger, if it materialises in the near term, may trigger multiple synergies immediately, in the form of advertising revenues and convenience fee for the merged entity, which should directly improve overall profitability,” Elara Capital said in a report.

Other synergies such as reduced rental costs and corporate overheads may also ensue in the medium to long term, it added.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Ullal: Auto-rickshaw accident near Konaje claims driver’s life

Congress victory in bypolls not a clean chit to CM in MUDA case: R Ashoka

IPL 2025 | Got someone who can do captaincy job: Ricky Ponting on Shreyas Iyer

Bad timing: Fraudsters call senior Indore cop during press briefing to pull off ‘digital arrest’

Kangana says MVA lost in Maharashtra because it disrespected women

UP: Protest over Sambhal mosque survey turns violent; 3 killed, 20 cops among injured

Ranbir Kapoor says he would love to remake grandfather Raj Kapoor’s ‘Shree 420’

Related Articles More

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

Air India Express increases flight operations from northeast destinations

Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle

Myntra pilots foray into quick commerce with ‘M-Now’ in select locations of Bengaluru

Never entered into pact to operate airport in Kenya: Adani

MUST WATCH

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar


Latest Additions

No one has right to break law: BJP on Sambhal violence

Ullal: Auto-rickshaw accident near Konaje claims driver’s life

Congress victory in bypolls not a clean chit to CM in MUDA case: R Ashoka

IPL 2025 | Got someone who can do captaincy job: Ricky Ponting on Shreyas Iyer

Will review INDI alliance’s dismal performance in Maharashtra, says Tejashwi Yadav

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.