PVR to dilute 10% stake to Thai firm

The board has approved the proposed allotment of equity shares to Major Cineplex Group Plc of Thailand on a preferential basis.

According to the reports, the multiplex major will allot a total of 2,557,000 equity shares of Rs 10 each, amounting to 10 per cent of the equity, at a price of Rs 165 per share, including a premium of Rs 155 per share.

The Major Cineplex is one of the leading lifestyle entertainment companies in Thailand with core business in multiplexes, film distribution, lifestyle neighbourhood malls, bowling and karaoke, ice skating rink, fitness clubs and advertising media.