Multiples Private Equity Fund, persons acting in concert sell 2.17% stake in PVR for Rs 176.5 crore
Multiples Private Equity Fund, persons acting in concert sell 2.17% stake in PVR for Rs 176.5 crore

Multiples Private Equity Fund and persons acting in concert (PACs) have trimmed stake in multiplex chain operator PVR by selling 12 lakh shares representing 2.17 per cent stake in the open market for an estimated sum of over Rs 176.50 crore.

As per a regulatory filing, Multiples Private Equity Fund, Multiples Private Equity Fund I Ltd, Plenty Private Equity Fund I Ltd, Plenty Private Equity FII I Ltd, Plenty CI Fund I Ltd and Plenty CI FII I Ltd, sold 12,00,000 shares in the open market.

The shares were sold on December 11, 2020; and, based on the weighted average price of the stock at Rs 1,470.92 apiece on the day, the transaction is estimated at Rs 176.51 crore.

Multiples Private Equity Fund and PACs held 11.88 per cent stake in PVR earlier. It has now come down to 9.71 per cent.

Last month, PVR had reported a consolidated net loss of Rs 184.06 crore for the second quarter ended September 30, 2020, as the film exhibition business continued to be impacted by the coronavirus-related restrictions.

The company had posted a net profit of Rs 47.67 crore in the July-September quarter a year ago.

Its total income was at Rs 110.61 crore during the quarter under review against Rs 979.40 crore in the corresponding quarter last fiscal.

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