PVR Limited announced that it has received INR 2.60 billion in funding from L Capital Eco Ltd, Multiples Alternate Asset Management, and other investors.
January 10, 2013 at 11:00 pm
Share
PVR Limited (BSE:532689) announced a private placement of 10,625,205 common shares at INR 245 per share for gross proceeds of INR 2,603,175,225 on November 29, 2012. The transaction will see participation from existing investor, L Capital Eco Ltd, which will subscribe for 3,359,898 common shares, new investor Multiples (Private) Equity Fund 1 Limited and Multiples (Private) Equity Fund, funds managed by Multiples Alternate Asset Management will subscribe for 4,649,326 common shares and 1,595,572 common shares respectively in the transaction. Ajay Bijli, Chairman of the company and Sanjeev Kumar, Joint Managing Director and Executive Director of the company will subscribe for 693,878 and 326,531 shares respectively in the transaction. The securities will be issued on preferential basis. The transaction will be approved by the shareholders of the company at the extra-ordinary general meeting to be held on December 29, 2012. On the same day, the board of directors of the company approved the transaction. Akila Agrawal and Shardul S Shroff of Amarchand Mangaldas will serve as the legal advisors to the company. Ajay Bahl and Anil Kasturi of AZB Partners will serve as legal advisors to L Capital Eco Ltd. Bomi Daruwala of Vaish Associates served as the legal advisor to Multiples Alternate Asset Management.
On November 20, 2012, the company announced that post transaction the promoter Ajay Bijli stake will be cut to 32% from the current 40.22% and Multiples PE and L Capital will each have 15.8%.
On November 29, 2012, the company announced that the transaction was approved by the board of directors of the company.
On December 29, 2012, the company announced that shareholder's approved the transaction in extra-ordinary general meeting.
On January 11, 2013, PVR Limited closed the transaction.
PVR INOX Limited is a film exhibition company in India with approximately 1713 screens across 362 properties in 115 cities in India and Sri Lanka. The Company is engaged in the business of movie exhibition, distribution and production and also in-house advertising, sale of food and beverages (F&B), gaming and restaurant business. It is involved in the theatrical exhibition business and allied activities under brand, PVR INOX. It offers features, such as premium large formats (PLF) for a wider viewing area through formats like BigPix, ScreenX, P[XL]. The Company also prioritize sound and electroacoustic enhancements to deliver an audio-visual journey through IMAX, ICE, 4DX, MX4D, and Onyx. Its other brands include Insignia, Director's Cut and Luxe. It offers a range of F&B options catering to diverse tastes, from gourmet delights to healthier alternatives. Its subsidiaries include PVR Pictures Limited, Shouri Properties Private Limited, Zea Maize Private Limited and PVR Lanka Limited.
PVR Limited announced that it has received INR 2.60 billion in funding from L Capital Eco Ltd, Multiples Alternate Asset Management, and other investors.
PVR INOX LIMITED 
