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PVR-Inox: Merger faces no threat from OTT; CCI approval eyed, say analysts

PVR and Inox have seen strong bounceback led by compelling movie content, rise in average ticket prices, and food and beverage (F&B) revenue per head surpassing pre-pandemic levels

Topics
PVR | Inox Leisure | multiplex stocks

Nikita Vashisht  |  New Delhi 



On Thursday, PVR Saket reopened after a plush makeover as a legacy property.

The proposed merger of and received a blockbuster response from investors as their shares soared up to 12 per cent on the bourses on Monday. The shares of surged 3 per cent to close at Rs 1,883.5 per share, while those of ended 12 per cent higher at Rs 535.5 apiece. In comparison, the benchmark S&P BSE Sensex edged 0.4 per cent up.

Analysts now see up to 31 per cent upside in Inox Leisure's stock and 26.5 per cent in as they eye operational synergies, better cash flows and stranglehold over real estate.

On Sunday, PVR and announced an all-stock merger where investors will receive three shares of PVR for 10 shares of Inox. Post the merger, Inox Promoters will have 16.66 per cent stake while PVR Promoters will have 10.62 per cent stake in the combined entity. The amalgamation is subject to approval of the shareholders and regulators.

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First Published: Mon, March 28 2022. 11:11 IST

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