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.”
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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.