You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

PVR to raise Rs 50 cr via NCDs

Capital Market 

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, October 12 2020. 09:21 IST