SEBI approves the merger of PVR and Inox, creating India’s largest multiplex network
The merged company will be controlled by 10.62 per cent of PVR promoters and 16.66 per cent of Inox. The Securities and Exchange Board of India (SEBI) has approved the merger of multiplex operators PVR and Inox, marking a crucial milestone in the regulatory process. The combination of the two businesses, which would result in India’s largest multiplex chain with a network of more than 1,500 screens, was first announced in March. According to the deal, Inox would combine with PVR at a share-for-share exchange ratio of 3 PVR shares for every 10 Inox shares. “The merger is pending approval…