PVR Inox to repurchase Rs 300 crore in share offer

PVR Inox, the country's biggest movie theater chain, opened its share buyback program on Thursday with a total value of Rs 300 crore. The company intends to repurchase nearly 21 lakh shares at a price of Rs 1,450 each. Eligible shareholders must have held their stock as of the record date set last Friday, which was September 4. Those who purchased additional shares before Thursday will not qualify for the deal. Participants in the reserved category can tender nine shares for every 157 they owned on that record date, while those in the general category may return 21 shares for every 1,108 held. The repurchase offer remains open from September 10 through September 17 via a tender route. Promoter groups have indicated their willingness to participate, allowing them to sell up to 5.69 lakh shares under the plan.