PVR Inox rebounds, up 7%; clarifies on Arora's exit, kickback allegations

PVR Inox share: PVR Inox said the preliminary examination in the anonymous allegations of impropriety by certain employees did not indicate any evidence of kickbacks.

PVR Inox's share price staged a smart rebound in Tuesday's trade after the company issued a detailed clarification regarding its former executive Pramod Arora's resignation and the outcome of the preliminary probe into the kickback allegations. The stock rallied to an intra-day high of ₹1,217 - up 5.2 per cent - following a near 6 per cent fall in the previous trading session. At 10:55 AM, PVR Inox traded with a gain of 5.7 per cent at ₹1,222. A combined 9.61 lakh shares changed hands at the counter on the BSE and the NSE. In comparison, the Sensex was down 0.5 per cent and the Nifty down 0.4 per cent. On Monday, PVR Inox registered its biggest intra-day fall (down 8 per cent) in the six months as the sentiment at the counter took a hit following reports that the company asked a senior executive, Pramod Arora, to leave in April after an internal investigation into alleged kickbacks received from developers involved in cinema property construction. 

PVR Inox on Arora's resignation, kickbacks probe findings

 PVR Inox in a stock exchange filing said a preliminary examination of anonymous allegations of impropriety by certain employees did not indicate any evidence of kickbacks. The company said two promoters received anonymous communications in early April containing allegations of impropriety by certain employees. According to PVR Inox, the communications did not explicitly name former executive Pramod Arora but referred to certain acronyms and initials instead. Despite the anonymous nature of the communications and the absence of verifiable details, the company decided to engage external third-party experts to conduct a preliminary assessment. “The preliminary examination also did not indicate any evidence of kickbacks,” PVR Inox said, underlining the outcome of the assessment. READ MORE Further, the company reiterated that Arora resigned from PVR Inox on May 4, citing personal reasons. The company said it accepted his resignation, subject to his acceptance of continuing obligations towards the company, and reserved all its rights and remedies.  

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PVR Inox open offer to start on September 10 (Thursday)

 PVR Inox's open offer to buy back up to 2.07 million equity shares at ₹1,450 per share for an aggregate amount of up to ₹300 crore, through the tender route, will open on September 10, Thursday. The open offer closes on September 17, 2026. The record date for determining the eligibility of shareholders to participate in the open offer was September 4, 2026. In a tender route share buyback, eligible shareholders can offer their shares back to the company at the set price of ₹1,450 per share. In general, a share buyback is when a company uses its own cash to purchase shares from existing shareholders. Instead of distributing cash through dividends, the company reduces the number of shares available in the market.