PVR okays amalgamation with Bijli Holdings

By: |
New Delhi | Published: September 4, 2015 9:28:16 PM

Multiplex operator PVR Ltd today said it has approved an amalgamation scheme between Bijli Holdings Pvt Ltd and itself to simplify PVR's shareholding structure.

pvr cinemasMultiplex operator PVR Ltd today said it has approved an amalgamation scheme between Bijli Holdings Pvt Ltd and itself to simplify PVR’s shareholding structure. (Reuters)

Multiplex operator PVR Ltd today said it has approved an amalgamation scheme between Bijli Holdings Pvt Ltd and itself to simplify PVR’s shareholding structure.

“The Board of Directors has considered and approved the Scheme of Amalgamation…between Bijli Holdings, based on the recommendation of the audit committee,” the company said in a BSE filing.

The purpose of the amalgamation is to simplify the shareholding structure of PVR and reduction of shareholding tiers. It also envisages to demonstrate Bijli Holdings’ direct engagement with PVR, it said.

“Bijli Holdings is part of the Promoter Group of PVR. Post-amalgamation, paid-up capital of the company will remain the same and there shall be no dilution for any shareholders including public shareholders,” PVR said.

After the amalgamation, individual promoters will directly hold shares in PVR and there will be no change in the total promoters’ shareholding of PVR.

The total promoters’ shareholding is 26.33 per cent of PVR’s paid-up equity share capital.

Shares of PVR Ltd were trading at Rs 816 apiece, down 2.32 per cent from their previous close on the BSE.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Suzlon seeks shareholders nod to raise Rs 5,000 crore
2WhatsApp crosses 900 million users milestone
35G technology to ‘transform the world’: Huawei vice president