PVR gains after ICICI Prudential MF, SBI MF raise stake

PVR rose 1.77% to Rs 1574 after ICICI Prudential Mutual Fund, SBI Mutual Fund, and Societe Generale picked shares worth Rs 380.37 crore in the multiplex chain operator via bulk deals yesterday, 20 March 2023.

As per the bulk deals data on the BSE, ICICI Prudential Mutual Fund acquired 6.41 lakh shares, SBI Mutual Fund purchased 14.69 lakh shares and Societe Generale - ODI bought 3.28 lakh shares in PVR.

In total, they bought 24.39 lakh equity shares of PVR at an average price of Rs 1,559.35 per share.

Meanwhile, foreign investor Warburg Pincus, through its affiliate Berry Creek Investment, offloaded 24.39 lakh shares, or the entire 2.49% stake, in the company.

As on February 2023, SBI MF held 59.88 lakh shares in PVR, while ICICI Prudential MF held 48.69 lakh shares in the company.

PVR is an industry leader in India in the film exhibition business dedicated to delivering the best cinema experience to different audiences.

PVR reported consolidated net profit of Rs 16.15 crore in Q3 FY23 compared with net loss of Rs 10.18 crore in Q3 FY22. Net sales jumped 53.2% to Rs 940.69 crore in Q3 FY23 as against Rs 614.15 crore in same quarter last year.

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