Tuesday, June 6, 2023
MediaNews4U
  • Exclusive
  • Advertising
  • Media
    • Radio
    • Cable & DTH
    • Print
    • Digital
  • Television
  • OTT
  • Impassioned
  • Marketing
  • Campaigns
  • Analysis
  • Opinion
    • Opinion
    • Think Through
    • Prescience 2023
  • People
  • Events
    • Leader Speak
    • Straight Talk
    • Gamechangers
No Result
View All Result
MediaNews4U
  • Exclusive
  • Advertising
  • Media
    • Radio
    • Cable & DTH
    • Print
    • Digital
  • Television
  • OTT
  • Impassioned
  • Marketing
  • Campaigns
  • Analysis
  • Opinion
    • Opinion
    • Think Through
    • Prescience 2023
  • People
  • Events
    • Leader Speak
    • Straight Talk
    • Gamechangers
No Result
View All Result
MediaNews4U.com
No Result
View All Result
Home Buzz

PVR to raise Rs 350 crore from PE firm Multiples by diluting 10.7% stake

by MN4U Bureau
June 13, 2015
in Buzz, Marketing
Reading Time: 2 mins read
A A

Share Share ShareShare

Mumbai : Film exhibition firm PVR Ltd said that it will raise Rs 350 crore from Indian private equity firm Multiple Alternate Asset Management, which will pick up 10.7 per cent stake in the company.

PVR has signed definitive agreements with funds managed by Multiple Alternate Asset Management (Multiples), under which the PE firm through its funds would subscribe 50 lakh equity shares of the multiplex chain operator for a 10.7 per cent fully diluted stake, the company said in a statement.

The company’s board today approved issuing the equity shares at a price of Rs 700 apiece on a preferential basis, it added.

The board has also convened an extra-ordinary general meeting on July 10 to seek shareholders’ approval for the same.

Commenting on the development, PVR Managing Director Ajay Bijli said the partnership was testimony to the faith that Multiples PR team reposed in the business model, promoters and the management of PVR team.

Multiples Managing Director and CEO Renuka Ramnath said: “PVR is a unique success story built on the back of strong financial support and endorsement from the same investor.”

Multiples has associated with PVR in the journey from less than 29 screen towards building 1,000 screens, Ramnath added.

Earlier this week, PVR acquired real estate major DLF’s DT Cinemas for Rs 500 crore in yet another consolidation in the cinema exhibition business in India.

PVR, which had in February 2010 aborted a similar deal with DLF, signed definitive agreement with the realty major to acquire 39 screens of DT Cinemas with a total capacity of around 9,000 seats.

As a result of the proposed acquisition, PVR will have a presence in 44 cities with 115 multiplexes and 506 screens, PVR said in a statement.

Tags: Ajay BijliMultiple Alternate Asset ManagementMultiplesMultiples Managing Director and CEOMultiples Managing Director and CEO Renuka RamnathPVRPVR CinemasPVR Managing DirectorPVR Managing Director Ajay BijliPVR to raise Rs 350 CrRenuka Ramnath

RECENT POSTS

Shikhar Dhawan invests in TagZ Foods, becomes brand ambassador
Featured

Shikhar Dhawan invests in TagZ Foods, becomes brand ambassador

June 5, 2023
0

TagZ Foods, a Bengaluru based urban snack brand has announced that it has roped in Indian cricketer Shikhar Dhawan as...

Read more
Wrangler ropes in Smriti Mandhana as brand ambassador
Featured

Wrangler ropes in Smriti Mandhana as brand ambassador

June 5, 2023
0

ace turtle, an Indian retail company, today announced the appointment of Indian cricketer Smriti Mandhana as the brand ambassador for...

Read more
KL Rahul invests in Sequoia-backed Hyugalife.com
Featured

KL Rahul invests in Sequoia-backed Hyugalife

June 3, 2023
0

Hyugalife, a health and wellness brand, has roped in Indian cricketer KL Rahul as investor and ambassador. The platform boasts...

Read more
MS Dhoni: a proud customer, now endorses Swaraj Tractors
Featured

Swaraj Tractors appoints MS Dhoni as brand ambassador

June 2, 2023
0

Mahendra Singh Dhoni, former Indian cricket team captain, has been appointed as brand ambassador for Swaraj Tractors.  The announcement was...

Read more
Zebronics signs Hrithik Roshan to endorse its Smart TV range
Featured

Zebronics signs Hrithik Roshan to endorse its Smart TV range

June 2, 2023
0

Zebronics, an IT Peripherals, Audio Systems and Lifestyle Accessories manufacturer, has announced Hrithik Roshan as a face for its range...

Read more
Cornerstone Sport signs Badminton Sensation PV Sindhu
Featured

Cornerstone Sport signs Badminton Sensation PV Sindhu

June 1, 2023
0

Cornerstone Sport has signed badminton star PV Sindhu, the celebrated two-time Olympic medalist and a trailblazing icon for women's sports....

Read more

LATEST NEWS

MullenLowe unveils new global positioning and brand identity

MullenLowe unveils new global positioning and brand identity

June 6, 2023
South Side Story – Beyond the report: Digital and traditional are co-existing in the South

South Side Story – Beyond the report: Digital and traditional are co-existing in the South

June 6, 2023

ANALYSIS

Indian households to make over 50% non-cash transactions by FY26: Redseer
Analysis

Indian e-commerce market to reach INR 900K Cr by FY26, driven by Tier-2 and smaller cities

June 6, 2023
0

The Indian e-Commerce market, which is currently at INR 400K Cr, is expected to reach INR 900K Cr by FY26,...

PEOPLE

BSH Home Appliances India appoints Saif Khan as MD & CEO
Featured

BSH Home Appliances India appoints Saif Khan as MD & CEO

June 6, 2023
0

BSH Home Appliances, a subsidiary of BSH Hausgeräte GmbH, has appointed Saif Khan as the Chief Executive Officer and Managing...

Godrej Consumer Products appoints Aasif Malbari as CFO

Godrej Consumer Products appoints Aasif Malbari as CFO

June 6, 2023

MARKETING

Shikhar Dhawan invests in TagZ Foods, becomes brand ambassador
Featured

Shikhar Dhawan invests in TagZ Foods, becomes brand ambassador

June 5, 2023
0

TagZ Foods, a Bengaluru based urban snack brand has announced that it has roped in Indian cricketer Shikhar Dhawan as...

Subscribe to Newsletters

ADVERTISING

Moving Walls forays into new markets with Adsmovil
Advertising

Moving Walls forays into new markets with Adsmovil

June 6, 2023
0

Moving Walls, a global outdoor advertising enterprise software provider, has entered into a partnership with Adsmovil, a Media Tech company...

Wavemaker India retains media mandate for Pernod Ricard India

Wavemaker India retains media mandate for Pernod Ricard India

June 5, 2023
Publicis Worldwide India appoints Sumant Bhattacharya as EVP - Strategy

Publicis Worldwide India appoints Sumant Bhattacharya as EVP – Strategy

June 5, 2023

PRINT

Dainik Bhaskar launches in Mumbai; appoints Concept to manage the brand
Featured

Dainik Bhaskar launches in Mumbai; appoints Concept to manage the brand

May 30, 2023
0

Dainik Bhaskar, a regional daily newspaper, has launched in Mumbai and has appointed Concept, an Independent Integrated Communication agency, to...

DB Corp Q3FY23: Ad revenue up 29 pc at Rs 11,233 mn

DB Corp’s total revenue grew by 21.2 pc to Rs. 21,682 mn in FY2023

May 19, 2023
Sportstar

The Hindu Group unveils Sportstar’s revamped edition

May 15, 2023

THINK THROUGH

How native ads can help drive awareness, engagement and conversion for brands
Featured

How native ads can help drive awareness, engagement and conversion for brands

May 23, 2023
0

The rise of social media and content-sharing platforms has had a profound impact on how native advertising fits into the...

Contact Us :

UPLIFT MEDIANEWS4U DIGITAL PVT LTD

No. 194B , Aram Nagar 2, JP Road

Versova, Andheri West

Mumbai - 400061

Umanath.V
+91-99400-17868
[email protected]

Medianews4u.com © 2019 - 2023 All rights reserved.

No Result
View All Result
  • Exclusive
  • Advertising
  • Media
    • Radio
    • Cable & DTH
    • Print
    • Digital
  • Television
  • OTT
  • Impassioned
  • Marketing
  • Campaigns
  • Analysis
  • Opinion
    • Opinion
    • Think Through
    • Prescience 2023
  • People
  • Events
    • Leader Speak
    • Straight Talk
    • Gamechangers

Medianews4u.com © 2019 - 2023 All rights reserved.