PVR Ltd has officially announced the merger of PVR and Inox, the country’s leading multiplex companies.
The closure of theaters over the past two years due to corona restrictions has had a severe economic impact not only on its workers but also on theater owners. At this point, with the corona spread currently declining, theaters are reopening and its business is recovering.
In this context, the Consultative Meeting of the Board of Directors of PVR Limited and Inox Limited was held today (27/03/2022). At the meeting, it was announced that PVR and Inox have merged. The announcement also said that PVR will be renamed Inox Limited along with the branding of the existing screens. Similarly, Ajay Bijli has been appointed as the Managing Director of the consortium and Sanjay Kumar as the Executive Director. The announcement was officially made by SVP Company Secretary & Compliance Officer Mukesh Kumar.
PVR Limited currently operates 871 theaters in 181 locations in 73 cities. Inox Ltd operates 675 screens in 160 locations in 72 cities. It is noteworthy that the integrated company will become the largest film exhibition company with 1,546 screens in 341 locations in 109 cities.
INOX Leisure Limited and PVR Limited Announce Merger
Merger to bring together two of India’s best cinema brands to deliver an unparalleled consumer experience with a network of more than 1500 screens #PressRelease @_PVRCinemas pic.twitter.com/H0LCm6T7MJ
— INOX Leisure Ltd. (@INOXMovies) March 27, 2022