The merger between the country’s largest multiplex PVR and INOX has been approved. On Sunday, the boards of PVR and Inox Company approved this proposal after a long meeting.
According to reports, after this deal, now a new form of the film exhibition industry can be seen.
After the merger, Ajay Bijli, CMD of PVR, will be the new Managing Director of the company. PVR has 860 cinema screens across the country, while INOX has 667 screens.
After the merger, now PVR and Inox Leisure will jointly own more than 1,500 screens across India.
According to reports, both these companies are listed in the stock market and it is being said that the combined merged company will have a market of more than Rs 16,000 crore which will make a big company with cap.