Explained: Why PVR and Inox Merged

New Delhi: On Sunday, PVR Limited and INOX Leisure Limited announced they would merge to “deliver an unparalleled movie-going experience” to their audiences. PVR INOX Limited will be the combined entity with existing screens remaining as PVR and INOX respectively. Following the merger, new cinemas will be branded as PVR INOX, according to a press release by PVR and INOX. PVR Promoters will hold a 10.62 percent stake in the combined entity following the merger, while INOX Promoters will hold a 16.66 percent stake. The merger will become effective when INOX and PVR have received all approvals.