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PVR receives shareholders' nod to raise Rs 500 crore via NCDs

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MUMBAI: Multiplex chain PVR has received shareholders' approval to raise Rs 500 crore through issuance of non-convertible debentures (NCDs) on private placement basis.



Additionally, the shareholders also approved a dividend of Rs 1 on each equity share for FY 2014-15 at its 20th annual general meeting (AGM).



It may be recalled that last year, the PVR board had approved a plan to raise Rs 500 crore via qualified institutional placement (QIP).

As of July 2015, PVR operates 474 screens across 106 locations in 43 Indian cities, which are spread across 15 States and one Union Territory.



For the quarter ended 30 June, 2015, PVR posted net profit of Rs 56.67 crore as compared to Rs 8.47 crore for the quarter ended 30 June, 2014. The company's total income increased from Rs 343.24 crore for the quarter ended 30 June, 2014 to Rs 462.82 crore for the quarter ended 30 June, 2015.

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