PVR - Fund Infusion De-Risks Operations; Reignites Expansion Plans: Nirmal Bang
The PVR Icon cinema stands at the DLF Promenade Mall in New Delhi, India. (Photographer Anindito Mukherjee/Bloomberg)

PVR - Fund Infusion De-Risks Operations; Reignites Expansion Plans: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

NIrmal Bang Report

PVR Ltd. raised equity worth Rs 11 billion in total in FY21 through a qualified institutional placement (QIP) (Rs 8 billion in Jan-Feb 2021) and rights issue (Rs 3 billion in July 2020).

We believe that the QIP reduces its net debt significantly from Rs 11.3 billion at the end of Q3 FY21 to a likely approximately Rs 5 billion by end of Q4 FY21 (after taking into account estimated loss in Q4).

This fund infusion reduces financial risk for the largest film exhibitor in the country and for a speedier screen expansion once the pandemic is put behind.

Click on the attachment to read the full report:

Nirmal Bang PVR - Company update -10th March 2021.pdf

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