Shares of PVR INOX Ltd. were under pressure in trade on Tuesday, December 30, after the company disclosed a promoter-level pledge of shares. The stock was trading around 2% lower at ₹994.60.In a regulatory filing, PVR INOX said its promoter Ajay Kumar Bijli has created an encumbrance by way of pledge on a total of 4 lakh equity shares on December 24.
Of this, 3,10,407 shares have been pledged in favour of Infina Finance Private Limited, while 90,037 shares have been pledged with HSBC InvestDirect Financial Services (India) Limited. The company clarified that the encumbrance has been created for personal borrowing purposes.
The latest disclosure comes at a time when the stock has been struggling on the bourses. PVR INOX shares have declined about 25% over the past one year.PVR INOX has launched India’s highest cinema site with the opening of Leh-Ladakh’s first multiplex at an altitude of 11,500 feet above sea level. The two-screen multiplex is located at Solar Colony, Saboo, along the Leh–Manali Bypass Road in the Himalayas.
Of this, 3,10,407 shares have been pledged in favour of Infina Finance Private Limited, while 90,037 shares have been pledged with HSBC InvestDirect Financial Services (India) Limited. The company clarified that the encumbrance has been created for personal borrowing purposes.
The latest disclosure comes at a time when the stock has been struggling on the bourses. PVR INOX shares have declined about 25% over the past one year.PVR INOX has launched India’s highest cinema site with the opening of Leh-Ladakh’s first multiplex at an altitude of 11,500 feet above sea level. The two-screen multiplex is located at Solar Colony, Saboo, along the Leh–Manali Bypass Road in the Himalayas.
The new property marks PVR INOX’s entry into Ladakh and operates under the company’s Franchise Owned Company Operated (FOCO) model. Both auditoriums are equipped with 2K projection, Dolby 7.1 Surround Sound, and Next-Gen 3D technology.
Ajay Bijli, Managing Director, PVR INOX Limited, said, “Few places in the world offer a setting as extraordinary as Ladakh, and bringing world-class cinema to 11,500 feet reflects our commitment to reaching audiences everywhere.”
