PE Funds Set to Offload Stake in PVR Inox in Bulk Deal, Valued at Rs 404.5 Crore

15 Dec 2023 , 10:49 AM

Plenty PE Fund and Multiples PE Fund Group plan to offload a 2.33 % stake in multiplex operator PVR Inox in a bulk deal, as per sources.

The offer price for the stake sale is indicated to be in the range of Rs 1,750 to Rs 1,769.5 per share, representing a potential 1.12 % discount on the December 14 closing price. The deal’s total value is estimated at Rs 404.5 crore.

Kotak Securities is managing the deal as the banker. Based on September-end shareholding data, Plenty PE Fund holds a 1.1 % stake in PVR Inox, equivalent to 10.76 lakh shares.

Year-to-date, PVR Inox shares have seen a 2.46 % increase. On the mentioned day, the stock rose by 1.09 % to Rs 1,769.95.

This bulk deal is part of a trend of similar transactions in the market, with the recent price surge providing an opportunity for existing investors to divest their holdings. Additionally, many funds are reallocating funds from underperforming stocks to those with a more promising outlook.

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