PVR, INOX merger: Check record date and shares ratio
PVR, INOX Merger Record Date, Ratio. The combined entity will be named PVR INOX Limited. PVR and Inox share prices traded flat on NSE and BSE on Friday.
PVR INOX Merger Record Date, Ratio: Shares of PVR and INOX Leisure are in focus as today, February 17, is the record date for the Scheme of Amalgamation between the two multiplex operators. PVR in a regulatory filing informed that the Scheme of Amalgamation between INOX Leisure Limited and PVR Limited has become effective upon a nod granted by the Mumbai bench of the National Company Law Tribunal (NCLT). Notably, the two multiplex operators had in January received approval from the NCLT for the proposed merger.
"Board of Directors of INOX Leisure Limited, the “ILL Committee of Board of Directors for Operations” of INOX Leisure Limited in mutual agreement with the Company have fixed February 17, 2023 as the ‘Record Date’ for the purpose of determining the shareholders of INOX Leisure Limited to whom equity shares of the Company would be allotted, pursuant to the Scheme," PVR said in a BSE filing.
The record date will be used by PVR to determine the eligibility of shareholders of INOX Leisure to whom equity shares of the company would be allotted, pursuant to the scheme.
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Meanwhile, shares of PVR and Inox were trading almost flat on the NSE at Rs 1,706 and Rs 507, respectively, around 9:30 AM.
PVR, INOX Merger Ratio
INOX shareholders would get 3 shares of PVR for 10 shares held in the company.
PVR and INOX Leisure had in March 2022 announced the merger to create the largest multiplex chain in the country. Once the merger takes effect, PVR-Inox will have a network of more than 1,500 screens.
The combined entity will be named PVR INOX Limited. The branding of existing screens will remain as PVR and INOX.
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