World · India Bureau
PVR Inox greenlights ₹300 crore share buyback programme
India's largest cinema chain PVR Inox has authorised a share repurchase scheme at ₹1,450 per equity share, with the record date set for 4 September. The buyback will involve acquisition of approximately 20.7 million fully paid-up shares through a tender offer.
LSN India ·
PVR Inox Limited's board of directors has approved a substantial share buyback programme valued at ₹300 crore as part of capital allocation and shareholder return initiatives. The buyback price has been fixed at ₹1,450 per fully paid-up equity share, representing a premium to recent market valuations.
The company will repurchase up to 20,68,965 fully paid-up equity shares through the tender offer route, a mechanism that allows shareholders to participate voluntarily in the buyback process. The record date for determining eligible shareholders has been set as 4 September, after which the repurchase will proceed according to regulatory timelines and procedural requirements.
The buyback represents a strategic move to enhance shareholder value and optimise the company's capital structure during a period of operational recovery in the cinema exhibition sector. PVR Inox, formed through the merger of PVR Limited and Inox Leisure Limited in 2021, operates the largest multiplex chain across India with a significant presence in major metropolitan areas.
The share repurchase programme is subject to regulatory approvals and compliance with provisions of the Companies Act, 2013, and Securities and Exchange Board of India (SEBI) regulations governing buyback of securities. The tender offer period and detailed modalities for the buyback are expected to be announced separately following completion of necessary regulatory formalities.