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PVR Inox Limited ( (IN:PVRINOX) ) has issued an update.
PVR Inox Limited has approved the divestment of its entire 93.27% stake in subsidiary Zea Maize Private Limited, owner of the gourmet popcorn brand 4700BC, to consumer goods company Marico Limited for Rs 226.8 crore. The business being sold is non-material to PVR Inox, contributing only 1.71% of its FY revenue and 0.42% of net worth, and the transaction, which is not a related-party deal, is expected to close within 30 days subject to customary conditions, marking a strategic exit from a small food subsidiary and allowing PVR Inox to streamline its portfolio while 4700BC transitions to a larger FMCG platform.
More about PVR Inox Limited
PVR Inox Limited is a leading Indian multiplex cinema operator, focused on exhibition of films and related entertainment services across the country. The company’s core business is theatrical exhibition, and it also holds interests in certain ancillary consumer-facing ventures, though these contribute only marginally to its overall revenue and net worth.
Average Trading Volume: 24,474
Technical Sentiment Signal: Strong Sell
Current Market Cap: 91.51B INR
For detailed information about PVRINOX stock, go to TipRanks’ Stock Analysis page.