The Bombay Bench of the National Company Law Tribunal (NCLT) on Thursday approved the merger between multiplex chains PVR Limited and Inox Leisure.
The merged entity will be known as PVR-Inox. According to some media reports, the merged entity will become the largest film exhibition company in India, operating 1,546 screens across 341 properties in 109 cities.
The branding of existing screens will not change. Theatres that open after the merger will be branded as PVR-Inox.
PVR's Joint Managing Director Sanjeev Kumar Bijli reportedly said the combined entity would have 3,000 to 4,000 screens in five years.
"We would add 200 to 250 screens every year and we are looking in the next five years maybe (as) 3,000 to 4,000 screens company," reports quoted him as saying.
