PVR and Inox To Merge Operations

The merged entity will be called PVR Inox, and will be India's largest film exhibition company.

The merged company will operate 1,546 screens across 72 cities in India

This is an all-stock deal where Inox shareholders will get 3 shares of PVR for every 10 shares they hold

Theatres and multiplexes currently face challenges from OTT platforms

The company will look to expand in smaller markets

PVR's stock is ended up 3.53% at ₹1,886, while Inox's stock ended 11.75% higher at ₹524.90