Intraday on Thursday, PVR share price has landed in the soup after surging as much as 5.05 per cent yesterday. Private equity (PE) firm Warburg Pincus bought a 14 per cent stake in PVR Ltd for Rs 820 crore through an open market transaction. Warburg Pincus bought the stake from existing investor Multiples Alternate Asset Management, which sold a 9 per cent stake, and the promoters of PVR which includes Chairman and managing director Ajay Bijli. The sale values the company is approximately Rs 5,860 crore.
Shareholders
Post the above mentioned transaction, Renuka Ramnath-owned Multiples, will retain 14 per cent in PVR through its units. The company’s promoters will stay the largest shareholders with a shareholding of about 20 per cent, as per the Warburg statement said. The promoters of PVR held 25.25 per cent in the company as on 31st December.
Stock analysis
As the markets commenced on Thursday, PVR share price is trading with a marginal fall of 0.77 per cent at Rs. 1293.85. The stock opened at Rs. 1304.00 against its previous closing at Rs. 1303.90. The multiplex chain has a market cap of Rs 6,046 crore.
No comments:
Post a Comment