L Capital to pump in Rs 108 cr in PVR

Meenakshi Verma Ambwani New Delhi | Updated on March 12, 2018


L Capital Eco, a subsidiary of private equity fund L Capital Asia, has signed an agreement to invest about Rs 108 crore in PVR’s cinema exhibition and in-mall entertainment business.

Under this agreement, L Capital will invest Rs 57.7 crore through the preferential allotment route in PVR Ltd for a 10 per cent stake. The PE firm will subscribe to about 28.85 lakh shares in PVR at a price of Rs 200 per share. This is subject to statutory approvals.

L Capital will also make an initial investment of Rs 50.1 crore for a joint venture with PVR to invest in various in-mall entertainment formats, gaming, food and leisure formats.

PVR’s existing investment in PVR bluO Entertainment, its bowling business, will become a part of this new subsidiary. The joint venture will require a nod from the Foreign Investment Promotion Board.

L Capital Asia is the private equity arm of luxury company LVMH.

Mr Ajay Bijli, Chairman and Managing Director of PVR, said in a statement: “This is in line with our vision to evolve into a full-scale lifestyle entertainment company over the next 4-5 years. L Capital has a strong global reach and has already made introductions to multiple international entertainment, leisure and F&B concepts.”

He added that the company expects to be able to bring multiple entertainment concepts to India through this partnership.


Published on August 01, 2012

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like