PVR Inox to buyback ₹300 crore worth of shares at ₹1,450 apiece; sets Sept 4 as record date
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PVR Inox on Monday said its board has approved a share buyback of up to 20.69 lakh equity shares for an aggregate amount of up to ₹300 crore, the country’s largest film exhibition company said in an exchange filing.
The buyback price has been fixed at ₹1,450 per equity share and will be carried out through the tender offer route on a proportionate basis. The proposed buyback represents 2.11% of the company’s existing paid-up equity share capital, PVR Inox said.
The company has fixed September 4, 2026, as the record date to determine the shareholders and beneficial owners eligible to participate in the buyback.
“The board/buyback committee may, 1 (one) working day prior to the record date, increase the buyback price and decrease the number of equity shares proposed to be bought back,” PVR Inox said, adding that the overall buyback size would remain unchanged.
The multiplex chain operator said its promoters and promoter group have indicated their intention to participate in the buyback.
“The board has noted the intention of the promoter and members of the promoter group of the company to participate in the buyback,” the company said.
PVR Inox has constituted a buyback committee and delegated powers to it to undertake necessary actions in connection with the proposed buyback. Murlee Manohar Jain, company secretary, has been appointed compliance officer for the buyback.
DAM Capital Advisors has been appointed as the manager to the buyback.
The company said the detailed process, timelines and other requirements relating to the buyback will be disclosed in the public announcement and letter of offer.
“The process, record date, timelines and other requisite details with respect to the buyback will be set out in the public announcement and the letter of offer,” PVR Inox said.
As of August 28, promoters and promoter group held 27.53% in PVR Inox, with 2.70 crore shares. Foreign investors held 19.82%, while financial institutions, banks and mutual funds held 35.03%. Public shareholders and others held the remaining 17.62%.
The actual number of shares bought back and the post-buyback shareholding pattern will be determined after completion of the buyback.
Ahead of the announcement, shares of PVR Inox settled 1.44% lower at ₹1,203.60 on the BSE, giving the company a market capitalisation of ₹11,819.35 crore.