PVR Ltd approves NCD issue, preferential allotment

The Board of Directors of PVR Ltd at its meeting held on July 22, 2015, has approved the issue of Non Convertible Debentures for a sum not exceeding Rs. 500 Crores subject to approval by the members of the Company in the forthcoming Annual General Meeting.

The Board approved the scheme of Merger of PVR Leisure Limited and Lettuce Entertain You Limited with the Company.

The Board also approved the allotment of 50,00,000 Equity Shares @ Rs. 700/- per share of face value Rs. 10/- each equity share at a premium of Rs. 690/- per share aggregating to Rs. 350 Crores on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited.

Shares of PVR LTD. was last trading in BSE at Rs.859.7 as compared to the previous close of Rs. 816. The total number of shares traded during the day was 342057 in over 14212 trades.

The stock hit an intraday high of Rs. 872 and intraday low of 820. The net turnover during the day was Rs. 290969199.

Source : Equity Bulls

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