Merger boost: Inox Leisure zooms 20%, hits record high; PVR jumps 10%

The combined entity will become the largest film exhibition company in India with 1,546 screens, at around 50 per cent multiplex screen market share and around 42% box office collection market share

Shares of PVR and Inox Leisure zoomed up to 20 per cent on the BSE in Monday's intra-day trade after they announced merger between the two major multiplex owners, in an all stock amalgamation of Inox with PVR. Shareholders of Inox will receive three shares of PVR in exchange for 10 shares in Inox.

In trades so far, Inox Leisure hit a record high of Rs 563.60, zooming 20 per cent in intra-day trade. The stock surpassed its previous high of Rs 510.80 touched on February 25, 2020. As of 09:17 am, the stock traded 15 per cent higher