PVR INOX
![]() | It has been suggested that INOX Leisure be merged into this article. (Discuss) Proposed since June 2023. |
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![]() PVR Cinemas in VR Chennai Mall | |
PVR INOX Ltd | |
Formerly | Priya Village Roadshow Ltd. (1997–2002) |
Company type | Public |
ISIN | INE191H01014 |
Industry | Entertainment (Movie Theatres) |
Founded | June 1997 |
Headquarters | Gurgaon, Haryana, India |
Number of locations | 361 locations and 1708 screens[1] |
Area served | India and Sri Lanka |
Key people |
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Revenue | ![]() |
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Number of employees | 20,000+ |
Subsidiaries | |
Website | www.pvrcinemas.com |
PVR INOX Ltd (formerly Priya Village Roadshow Ltd), formerly known as PVR Cinemas,[2][3]is an Indian multiplex chain based in Gurgaon. It was formed as a result of the merger between PVR Cinemas and INOX Movies. PVR pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at Saket, New Delhi. In 2022, PVR Cinemas achieved the milestone of completing 25 years in the business.[4]
History
![](http://upload.wikimedia.org/wikipedia/commons/thumb/d/dc/Pvrcinemas_logo.jpg/200px-Pvrcinemas_logo.jpg)
PVR Cinemas has its origin as Priya Cinema in Vasant Vihar, Delhi, the Cinema was named after Priya Jaisinghani and was bought by Ajay Bijli's father in 1978, who also owned a trucking business, Amritsar Transport Co. In 1988, Bijli took over the running of the cinema hall, which was revamped in 1990, and its success led to the founding PVR Cinemas.[5][6]
The company started as a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow Limited in 1995 with 60:40 ratio. It began its commercial operations in June 1997. The company was founded by Ajay Bijli who is the chairman and managing director of PVR Cinemas. Ajay Bijli's brother Sanjeev Kumar Bijli is the Joint Managing Director of PVR Ltd. The company also operates a pro-active CSR wing under PVR. In 2003, ICICI Ventures invested ₹40 crore in PVR when Village Roadshow decided to pull out of the partnership.[7]The first PVR Gold Screen was introduced in Forum Mall, Bengaluru.
Mergers and acquisitions
CineMAX
Cinemax, also known as Cinemax India Ltd, was an Indian cinema chain which owned 138 screens across 39 properties in India, including Ahmedabad, Bangalore, Hyderabad, Kochi, Mumbai, Pune, Kolkata, Kanpur, Bhopal and Nashik.[8] It was previously owned by the Kanakia group but later bought by Cine Hospitality Private Ltd, a subsidiary of PVR Cinemas. [9][10] The acquired properties were renamed as PVR Cinemas in a phased manner over the years.
DT Cinemas
In May 2016, DLF group owned DT Cinemas was bought by PVR Cinemas for ₹500 crore (US$60 million).[11][12]
SPI Cinemas
SPI Cinemas, a premium multiplex chain based in Chennai had its origins in the "Royal Theatre Complex" built by Raja from Venkatagiri in April 1974 and acquired by the Reddy family in the 1980s.[13][14][15] Kiran Reddy, the then CEO of SPI Group took over the business in 1999 and continued developing the theatre, adding three more screens and refurbishing the existing three.[16][17] The company was often lauded for its premium quality and inexpensive pricing.[18] The group was notable for being the first multiplex operator in India to equip its screens with the Dolby Atmos and Auro 11.1 sound systems.[19][20]
In August 2018, PVR Cinemas announced their acquisition of SPI Cinemas for ₹850 crore in a cash and stock deal.[21] In August 2019, the National Company Law Tribunal (NCLT) New Delhi-branch approved the amalgamation of SPI Cinemas into PVR Cinemas with effect from the appointed date of 17 August 2018, PVR said in the exchange filing.[22]
INOX Leisure Limited
On 12 Jan 2023, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the merger of PVR and INOX. [23]In February 2023, PVR merged with its rival INOX Leisure to create largest multiplex chain in India.[24] All the new properties opened after the merger with Inox will be branded as 'PVR Inox'.[25] The existing properties owned by PVR and Inox prior to merger will continue to carry 'PVR' and 'Inox' branding respectively.[26]Post-Merger PVR was renamed PVR INOX Ltd., and it is fifth largest listed multiplex chain globally by screen count.[27][28] PVR currently is in process of creating a unified rewards system in place of PVR Privilege and Inox Rewards that will be used across both PVR and Inox properties. A unified booking portal and app will also be launched soon in place of PVR and Inox websites and apps. The merged entity has plans to open 150+ screens every year and enter Tier 3, Tier 4 cities in India to provide ultimate movie viewing experience which currently is mostly restricted to Tier 1 and Tier 2 cities.
Luxe Cinemas
Luxe, a premium multiplex with 11 screens operating at Phoenix MarketCity Mall, Chennai owned by Jazz Cinemas was acquired by INOX in October 2022[29][30] which in turn merged with PVR in 2023.[31]
PVR Inox Pictures
PVR INOX pictures is the movie distribution arm of PVR Inox Ltd. It was earlier named as PVR Pictures but post the merger with Inox leisure, it was rebranded as PVR INOX Pictures.[32]
Collaborations
In October 2021, PVR announced their collaboration with the film RRR as part of the film's promotion. Accordingly, PVR would rebrand itself as PVRRR across the multiplex chain's 170+ properties in over 70 cities for a few months following the film's release on 25 March 2022.[33] As part of the promotions, they also launched an exclusive NFT (non-fungible token) collection for the film. About 300 digital collectibles including posters signed by director S. S. Rajamouli and the lead cast including Ram Charan, N. T. Rama Rao Jr. and Alia Bhatt and props used in the film were made available to fans as memorabilia.[34]
In June 2022, PVR announced a collaboration with French high-end theatre company, Ice Theatres, part of CGR Theatres, to open new premium theatres in India.[35]
PVR also expanded its preferred partnership agreement with laser cinema solutions provider Cinionic to power all of its screens with Barco Series 4 4K laser projection. On completion of this roll-out, PVR would become the first exhibition chain in India to go 100 per cent 4K RGB laser projection. [36]
In 2022, PVR Cinemas entered into an exclusive partnership with Visa, the official payments technology partner of FIFA for organizing ‘FIFA World Cup 2022TM Viewing Parties’ across 11 properties in 8 cities.[37]
In 2023, PVR hosted the Oscars Film Festival where it screened some of the most popular movies nominated for the 94th Academy Awards.[38] PVR INOX also partnered with INGKA Centers, part of IKEA's retail operator INGKA Holding for its upcoming Gurgaon center to open a nine-screen movie theatre.[39]
Formats
PVR Gold Screen
PVR's first "Gold Screen" was launched in Indore in 2007.[40]
PVR Superplex
In 2014, PVR Cinemas introduced Superplex format in Noida. The cinema has 15 screens with IMAX, 4DX, Gold Class, a playhouse and mainstream auditoriums. PVR Cinemas has invested ₹48 crores in this new venture. PVR also joined hands with friends group and business venture was called FRIENDS CINEMA [41]
PVR Playhouse
PVR Playhouse includes a special movie auditorium showcasing children's movies/animated content. Along with a slide to play on, it offers bean bags and rubberised seats for kids and parents.[42] This format is available only in Bengaluru, Chennai, Delhi, Hyderabad, Indore and Mumbai.
PVR 4DX
In 2016, PVR's 4DX became the second movie theater chain in India to introduce 4DX in the country after Cinépolis.[43]
PVR ICE
In 2022, PVR Cinemas introduced the first ICE Theatres format in Delhi NCR.[44] This was the first ICE in India and Asia Pacific Region.
Gallery
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PVR Saket, New Delhi (December 2005)
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PVR Vikas Puri, New Delhi (November 2007)
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PVR Phoenix Marketcity, Mumbai (October 2010)
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PVR Acropolis, Ahmedabad (January 2012)
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PVR Latur (October 2009)
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PVR Vega City Mall, Bengaluru (July 2018)
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PVR Nucleus Mall, Ranchi (May 2022)
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PVR Sattva Divinity Global Mall, Bengaluru (June 2023)
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PVR Forum Falcon City, Bengaluru(July 2023)
References
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- ^ "PVR Company History – Business Standard News". Business Standard. Retrieved 1 September 2021.
- ^ Sen, Meghna (12 January 2023). "PVR-Inox merger approved by Mumbai NCLT". mint. Archived from the original on 9 May 2023. Retrieved 7 August 2023.
- ^ "PVR Cinemas celebrates 25 years in cinematic entertainment". Eventsfaqs.com. 10 August 2022. Retrieved 4 September 2023.
- ^ "Questions & Answers: Ajay Bijli". The Wall Street Journal. 24 November 2009. Retrieved 24 September 2014.
- ^ Abrar, Peerzada (24 August 2012). "How Ajay Bijli, the man behind PVR, managed to crack the movie theatre business in India". The Economic Times. Archived from the original on 14 June 2015. Retrieved 24 September 2014.
- ^ Sinha, Suveen K. (20 October 2011). "Lunch with BS: Ajay Bijli". Business Standard. Archived from the original on 20 October 2011. Retrieved 29 November 2011.
- ^ "Business News Today: Read Latest Business news, India Business News Live, Share Market & Economy News". Archived from the original on 5 March 2016. Retrieved 20 August 2023.
- ^ "PVR buys Cinemax for Rs 395 cr, becomes country's largest multiplex". Firstpost. 29 November 2012. Archived from the original on 2 December 2012. Retrieved 29 November 2012.
- ^ "PVR Acquires 69 percent Stake in Cinemax for 395 Crores". Biharprabha News. 30 November 2012. Archived from the original on 25 July 2015. Retrieved 25 July 2015.
- ^ "PVR acquires DLF's DT Cinemas for Rs 500 crore". The Times of India. 9 June 2015. Archived from the original on 17 September 2016. Retrieved 1 July 2016.
- ^ Malvania, Urvi (11 February 2015). "Coming soon: Multiplex boom across India". Business Standard. Archived from the original on 25 July 2015. Retrieved 25 July 2015.
- ^ Ramakrishnan, N. (27 December 2013). "Chennai has a big role to play". Business Line. Archived from the original on 13 April 2014. Retrieved 9 April 2014.
- ^ "The changing scene". The Hindu. 27 November 2013. ISSN 0971-751X. Retrieved 29 August 2023.
- ^ "Sathyam Cinemas selects Qube for all screens of its flagship multiplex at Chennai, India". DCinemaToday. 26 June 2007. Retrieved 29 August 2023.
- ^ Pillai, Sreedhar (15 December 2006). "And now, the multiplex mania". The Hindu. Archived from the original on 17 December 2006. Retrieved 29 August 2023.
- ^ "Reddy Made In Chennai". The Hindu. 24 March 2011. ISSN 0971-751X. Retrieved 29 August 2023.
- ^ "Hollywood praise for Sathyam Cinemas!". Behindwoods. 31 October 2012. Archived from the original on 20 June 2014. Retrieved 22 April 2014.
- ^ Almeida, Aaron (5 December 2012). "Dolby launches its Dolby Atmos audio platform in India". Firstpost. Archived from the original on 1 February 2014. Retrieved 23 March 2013.
- ^ Mead, Bill (25 November 2013). "Technology in review: Asia embraces digital, 3D and immersive sound". Film Journal International. Archived from the original on 25 December 2013. Retrieved 8 April 2014.
- ^ "PVR buys Sathyam Cinemas in Rs 850 crore cash-&-stock deal". The Times of India. 13 August 2018. Archived from the original on 16 August 2018. Retrieved 16 August 2018.
- ^ "SPI cinemas amalgamated with PVR effective 17 August 2018" (PDF). PVR Cinemas. 23 August 2019. Archived (PDF) from the original on 5 November 2019. Retrieved 21 August 2023.
- ^ "PVR-INOX merger gets NCLT approval". Moneycontrol.com. 12 January 2023. Retrieved 4 September 2023.
- ^ "PVR merges with Inox to create India's biggest multiplex chain". PVR Cinemas. 7 February 2023. Archived from the original on 9 May 2023. Retrieved 9 May 2023.
- ^ "PVR becomes PVR INOX as name change takes effect". PVR Cinemas. 21 April 2023. Archived from the original on 9 May 2023. Retrieved 9 May 2023.
- ^ "PVR-Inox merger approved by Mumbai NCLT". PVR Cinemas. 12 January 2023. Archived from the original on 9 May 2023. Retrieved 9 May 2023.
- ^ "India's largest multiplex operators to merge, creating cinema giant". Reuters. 28 March 2022. Archived from the original on 19 April 2023. Retrieved 24 August 2023.
- ^ Mohapatra, Shailaja (15 March 2023). "World's 5th largest multiplex chain now also a fast food giant: Should you bet on PVR-Inox?". Moneycontrol.com. Retrieved 4 September 2023.
- ^ "Jazz Cinemas buys Luxe multiplex". The Hindu. 30 October 2015. Archived from the original on 21 August 2023. Retrieved 24 August 2023.
- ^ "INOX Leisure Ltd to acquire Luxe Cinemas, theatre business of Jazz Cinemas". EquityBulls. 13 October 2022. Archived from the original on 24 April 2023. Retrieved 24 August 2023.
- ^ "PVR opens new multiplex in Phoenix mall". The Times of India. 8 March 2023. Archived from the original on 4 June 2023. Retrieved 24 August 2023.
- ^ "PVR Pictures is now PVR INOX Pictures post-merger with Inox Leisure". Mint. 8 March 2023. Retrieved 27 August 2023.
- ^ "PVRRR: Makers of RRR tie-up with PVR Cinemas to promote film in unique way". The News Minute. 30 October 2021. Archived from the original on 28 December 2021. Retrieved 28 December 2021.
- ^ Jha, Lata (21 March 2022). "PVR Cinemas launches 'RRR' NFT collection". Livemint. Retrieved 4 September 2023.
- ^ Jha, Lata (24 June 2022). "PVR ties up with French company for high-end cinema properties". mint. Archived from the original on 25 June 2022. Retrieved 25 June 2022.
- ^ PTI (21 June 2022). "PVR to become first exhibition chain with 100 per cent 4K laser projection". Economic Times. Retrieved 4 September 2023.
- ^ "PVR Cinemas associate with Visa for FIFA World Cup Qatar 2022". afaqs.com. 12 December 2022. Retrieved 4 September 2023.
- ^ "Oscars Film Fest To Let Audiences Binge On 2023 Oscar-Nominated Films". Outlook. 17 February 2023. Retrieved 4 September 2023.
- ^ "Ingka Centres partners PVR Inox for multiplex". Business Line. 25 April 2023. Retrieved 4 September 2023.
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- ^ Ambwani, Meenakshi Verma (21 July 2014). "PVR Superplex, its different". @businessline. Archived from the original on 26 December 2021. Retrieved 26 December 2021.
- ^ "PVR Playhouse puts children in the picture". The New Indian Express. Archived from the original on 26 December 2021. Retrieved 26 December 2021.
- ^ Laghate, Gaurav. "PVR to enhance cine experience with 4DX screens". The Economic Times. Archived from the original on 26 December 2021. Retrieved 26 December 2021.
- ^ Khan, Zeba (20 December 2022). "PVR Cinemas launches first Ice Theatres format in India and Asia Pacific region". WION. Archived from the original on 21 August 2023. Retrieved 20 December 2022.