Diabytes
PVR Ltd News
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The respective board of directors of the two companies at their meetings held on Sunday have approved an all-stock amalgamation of Inox with PVR.
As per the agreement, Inox will merge with PVR in a share swap ratio of 3 shares of PVR for every 10 shares of Inox.
PVR Promoters will have a 10.62 per cent stake, while Inox promoters will have 16.66 per cent stake in the combined entity.
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Multiplex chain PVR Ltd is looking to raise up to Rs 250 crore through issue of non-convertible debentures to fund various activities, including acquisitions.
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Film exhibition firm PVR Ltd on Friday said it will raise Rs 350 crore from Indian private equity firm Multiple Alternate Asset Management, which will pick up 10.7 percent stake in the company.
Realty major DLF plans to sell 'DT Cinemas' and is in talks with potential buyers including PVR Ltd, as part of its strategy to exit non-core businesses and cut huge debt of over Rs 20,000 crore.
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