PVR Shares Rise as SBI Mutual Fund, ICICI Prudential Buy Stake in Company; Details

PVR Block Deal: PVR Ltd shares jumped as a lot as 2.5 per cent on Tuesday after non-public investor Warbug Pincus offered its total 2.49 per cent stake in the multiplex chain in a block deal on Monday. Warburg Pincus, by its affiliate Berry Creek Investment Ltd, offered the shares in PVR.

According to the block deal knowledge obtainable with the BSE, Berry Creek Investment offered a complete of 24,39,301 shares in three tranches, amounting to 2.49 per cent stake in the agency.

The shares had been disposed at a mean value of Rs 1,559.35 apiece, taking the transaction worth at Rs 380.37 crore.

Following the block deal, SBI Mutual Fund, ICICI Prudential and France-based overseas institutional investor (FII) Societe Generale — ODI have purchased stake in PVR.

As per the BSE bulk offers obtainable on BSE web site — bseindia.com, SBI Mutual Fund purchased 14,69,650 PVR shares paying Rs 1,559.35 for one share of the corporate. This means complete price of this SBI Mutual Fund funding in PVR is round Rs 229 crore ( Rs 1,559.35 x 14,69,650).

ICICI Prudential Mutual Fund additionally purchased PVR shares paying Rs 1,559.35 per share. ICICI Prudential Mutual Fund purchased 6,41,300 PVR shares in the majority deal executed on twentieth March 2023. This means ICICI Prudential Mutual Fund purchased PVR shares price round Rs 100 crore ( Rs 1,559.35 x 6,41,300).

Similarly, France-based FPI Societe Generale — ODI purchased 2.43 lakh PVR shares paying Rs 1,559.35 apiece which means the FII invested round Rs 51.20 crore.

However, Mauritius-based FII Berry Creek Investment Ltd booked revenue in PVR at Rs 1,559.35 apiece. The Port Louis headquartered FII offloaded 2,439,301 PVR shares at Rs 1,559.35 per share ranges. This means the FII fished out Rs 380 crore from the corporate ( Rs 1559.35 x 24,39,301).

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