PVR ends 4% up on shareholders's nod to raise Rs 350 crore via preferential allotment of shares

NEW DELHI: Stocks of PVR jumped 6.5 per cent in intraday trade on Monday after the company received the shareholders’ nod to preferentially allot 50 lakh equity shares to a private equity firm at Rs 700 apiece.

The stock ended the day 4.17 per cent higher or Rs 28.55 at Rs 712.60.

The allotment price has been set at a premium of 2.33 per cent to Friday’s closing price of Rs 684.05 on the BSE.

In a filing after market hours on Friday, the company informed the BSE that it will issue 4,33,143 shares to Plenty CI Fund limited, 4,47,095 shares to Multiples Private Equity Fund II LLP and 41,19,762 shares to Multiples Private Equity Fund I Limited.

In a separate filing, the company informed the stock exchanges that it has opened a multiplex in Gujarat. With this, the total screen count has gone up to 474. The company has presence across 43 cities in 15 states. The company recently acquired DT Cinemas and experts believe that the acquisition could add to the company’s numbers going ahead.