Mumbai: India ’s largest multiplex chain operator PVR Ltd on Wednesday launched a qualified institutional placement (QIP) offering, aiming to raise as much as ₹800 crore by selling shares to institutional investors. This is the second equity fundraise by the multiplex operator since the covid-19 pandemic shut down movie theatres for more than six months. In July, PVR raised ₹300 crore from existing shareholders through a rights issue. Rival Inox Leisure Ltd raised ₹250 crore through a QIP in November. PVR set a floor price of ₹1,495.93 per share for its latest fundraise, based on a regulatory formula for such share sales.

Source: Mint January 27, 2021 14:23 UTC