Leading film exhibition players PVR Ltd and INOX Leisure Ltd on Sunday announced a merger deal to create the largest multiplex chain in the country with a network of more than 1,500 screens.
The respective board of directors of the two companies at their meetings held on Sunday have approved an all-stock amalgamation of INOX with PVR, the two companies said in separate regulatory filings.
The combined entity will be named PVR Inox Ltd with the branding of existing screens to continue as PVR and INOX. New cinemas opened post the merger will be branded as PVR Inox, they added.
