Inox and PVR will unite to form a multiplex climax merged business to be known as PVR Inox Ltd

On Sunday, the boards of PVR Ltd and Inox Leisure Ltd, India’s top two multiplex chains, authorised an all-stock merger to form India’s largest cinema exhibition firm with a network of more than 1,500 screens.

While current multiplex screens will keep their trademarks, future theatres opened following the merger would be branded as PVR Inox, PVR said on Sunday to stock markets. The amalgamated company will be known as PVR Inox Ltd.

Following the merger, Inox promoters would hold 16.66% of the merged business, while PVR founders will own 10.62%.

Ajay Bijli, chairman and managing director of PVR, will serve as managing director of the amalgamated firm, while Sanjeev Kumar Bijli will serve as executive director.

Inox’s chairman, Pavan Kumar Jain, would be appointed.