PVR jumps 9% as its rights issue gets over-subscribed by 2.24 times

The rights issue received an application for 85.29 lakh shares, worth Rs 672 crore

Shares of PVR advanced up to 8.8 per cent on the BSE on Wednesday after the multiplex-chain owner's successfully raised Rs 300 crore via its right issue. The rights issue was over-subscribed by 2.24 times.

At 11:55 am, the stock was quoting at Rs 1,191 apiece on the BSE, up 6 per cent, as against 0.17 per cent decline in the Sensex. A combined 4 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.

The rights issue had opened for subscription on July 17th and closed on July 31st. It