PVR, Inox Leisure book ticket to a JV; combined entity to run 1,546 screens

In the merged entity, PVR promoters will have 10.62 per cent stake while Inox promoters will have 16.66 per cent.

Film exhibitors PVR and Inox Leisure’s boards have approved an all-stock amalgamation of both the firms and the combined entity would be named PVR Inox. Once all approvals are obtained, merger between the two companies would become effective. The companies will need approval of PVR and Inox shareholders, the stock exchanges, the Securities and Exchange Board of India (Sebi) and other such regulatory bodies as may be required.
 

The management of both the companies expect the merger to go through in the next six to nine months. Inox shareholders will receive three shares in PVR for 10 shares of Inox,