PVR Inox has entered into a shareholders’ agreement with Devyani International Ltd to incorporate a new company for developing and operating food courts in shopping malls
Devyani and PVR INOX shall invest in the share capital of the proposed company in the ratio of 51:49, respectively, according to the stock exchange filing.
Ravi Jaipuria, Non-Executive Chairman, Devyani International Ltd, said, “We are elated to have embarked on yet another association with PVR INOX and elevated our collaboration.”
Ajay Bijli, Managing Director, PVR Inox, said, “Through this opportunity, PVR INOX will be able to pivot into pre-ticketed F&B revenue stream as opposed to the current post ticketed F&B revenue that’s very movie line up dependent. It is our first of the many steps we intend to take to further expand our F&B business.”
As of 2.26 pm, PVR Inox stock traded at ₹1,289 on the NSE, down by 2.02 per cent.
Devyani International on Tuesday reported a consolidated net loss of ₹48.95 crore in the fourth quarter ended March 31, 2024. The stock traded at ₹156.20 on the NSE as of 2.27 pm, up 0.55 per cent.