PVR and INOX happen to be the biggest ever multiplex chains in the country. PVR Limited and INOX Leisure Limited announced a merger and joined hands to emerge as the biggest ever film screening chain in the country. They will have more than 1500 screens to their name. The share exchange ratio is 3 shares of PVR for 10 shares of INOX. Ajay Bijili will be the Managing Director of the new entity.
A series of meetings are held and the final meeting happened today after which the merger was made official and announced to the media. After obtaining all the approvals, the merger will be applied. The combined entity will be called PVR INOX. PVR has 871 screens in 73 cities in 181 properties. INOX has 675 screens in 72 cities across 160 properties. PVR INOX is expected to show pure dominance in the multiplex market of Indian cinema.
