PVR to raise Rs 50 cr via NCDs

The board of the multiplex chain operator on 9 October 2020 approved raising Rs 50 crore through allotment of 500 non-convertible debentures (NCDs).

PVR's board approved allotment of 500 secured redeemable non-cumulative listed rated non-convertible principal protected market linked debentures (NCDs) of face value of Rs 10 lakh each, at par, aggregating up to Rs 50 crore, fully paid on a private placement basis. The said NCDs carry tenure of 15 months and the due date of redemption is 7 January 2022.

PVR is the market leader in terms of screen count in India. Currently, it operates 845 screens in 176 cinemas in 71 cities in India and Sri Lanka with an aggregate seating capacity of approximately 1.82 lakhs seats. The company reported a consolidated net loss of Rs 225.73 crore in Q1 June 2020 compared with net profit of Rs 17.53 crore in Q1 June 2019. Net sales during the quarter slumped 98.6% year-on-year (Y-o-Y) to Rs 12.70 crore.

Shares of PVR rose 0.57% to Rs 1,275.50 on BSE. The scrip has surged 80.52% from its 52-week low of Rs 706.55 hit on 19 May 2020.

Powered by Capital Market - Live News