PVR INOX

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PVR INOX Limited
PVR INOX
FormerlyPriya Village Roadshow Ltd.
(1997–2002)
Company type Public
ISIN INE191H01014
Industry Entertainment (Movie Theatres)
FoundedJune 1997;26 years ago (1997-06)
Headquarters7th floor, Lotus Grandeur Building, Veera Desai Road, Andheri (West), Mumbai, Maharashtra,
India
Number of locations
359 locations and 1712 screens [1]
Area served
 India and Sri Lanka
Key people
RevenueIncrease2.svg₹38,297 million (US$480 million)
Decrease2.svg₹3,364 million (US$42 million)
Number of employees
20,000+
Subsidiaries
Website www.pvrcinemas.com

PVR INOX Ltd (formerly Priya Village Roadshow Ltd), formerly known as PVR Cinemas, [3] [4] is an Indian multiplex chain based in Mumbai. It was formed as a result of the merger between PVR Cinemas and INOX Leisure Multiplex. 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. [5] As of December 2023, PVR Inox has 1712 screens across 359 properties in 114 cities (India and Sri Lanka). [6]

Contents

History

The current company name reflects the 2023 merger between PVR Cinemas and INOX Leisure.

In February 2024, the company launched India's first ever standalone IMAX theatre with 4k projection with laser 'EROS INOX IMAX Cinema' with 305 seating capacity by refurbishing the 1200 seater, 86-year-old heritage Eros Cinema in Churchgate, Mumbai. [7] [8]

In April 2024, the company launched its first Megaplex in South India at Bangalore's Phoenix Mall of Asia with a seating capacity of 1997 people. Out of the 14 screens in the Megaplex, one is in multi-sensory MX4D format, one is in large-screen format ScreenX, three are in luxury format and nine premiere auditoriums have last-row celebrity plush recliners. While MX4D offers an immersive 4D movie experience, Screen X offer 270-degree cinema viewing. [9]

PVR Cinemas

Logo used from 2001 until 2019 Pvrcinemas logo.jpg
Logo used from 2001 until 2019

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. [10] [11]

The company started as a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow Limited of Australia 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. [12] The first PVR Gold Screen was introduced in Forum Mall, Bengaluru.

INOX Leisure

Inox Leisure Ltd.
Company type Public
  • BSE: 532706
  • NSE: INOXLEISUR
ISIN INE312H01016
Industry Entertainment
Founded1999;25 years ago (1999) [13]
FounderPavan Jain
FateMerged with PVR Cinemas in March 2023
HeadquartersViraj Towers, Andheri East, Mumbai,
India
Number of locations
74 cities (170 multiplexes, 722 screens) [14]
Key people
RevenueIncrease2.svg₹1,707 crore (US$210 million)
Owner INOX Group
Number of employees
1500
Subsidiaries
Website www.inoxmovies.com

INOX Leisure or INOX Movies was an Indian multiplex chain based in Mumbai. The company was incorporated as a public limited company in November 1999. [17] It is a subsidiary of INOX (Industrial Oxygen) Group of Companies. [18] In 2002, the company commenced its operation by opening its first four-screen multiplex at Pune and another four-screen multiplex at Vadodara. In 2004, multiplexes were added in Kolkata, Goa, and Mumbai.

In 2006, the company went public by issuing 1,65,00,000 equity shares of ₹10 each with pricing of ₹120 per share consisting of a fresh issue of 1,20,00,000 equity shares of ₹10 each and an offer for sale of 45,00,000 equity shares of ₹10 each by Gujarat Fluorochemicals. [19]

Over the years, more screens were added in cities including Bangalore, Chennai, Hyderabad, Jaipur, Indore, Darjeeling, Kota, Rajasthan, Lucknow, Madurai and Coimbatore.[ citation needed ]

In 2006, INOX acquired 89 Cinemas, owned by Calcutta Cinema Private Ltd (CCPL), in a share swap deal, giving INOX ownership of nine multiplexes in West Bengal and Assam. [20]

INOX acquired Satyam Cineplexes Limited by way of acquisition of 100% of the equity share capital from its existing shareholders which is valued at ₹182 crores giving them ownership of multiplexes in NCR, Mysuru and other regions. [21]

According to INOX’s Director Siddharth Jain, in 2018, the Metro INOX multiplex at Mumbai became India's first cinema to be powered by solar power. [22] And in 2021, the company installed electric vehicle charging station at its multiplex in Pune & Vadodara. [23]

As of December 2022, INOX had 170 multiplexes and 722 screens in 74 cities of the country. [24] INOX Leisure Limited was the entertainment venture of the INOX Group.

Corporate affairs

The head office is in Andheri, Mumbai. [25]

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. [26] It was previously owned by the Kanakia group but later bought by Cine Hospitality Private Ltd, a subsidiary of PVR Cinemas. [27] [28] 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$63 million). [29] [30] The properties were later rebranded as PVR.

SPI Cinemas

SPI Cinemas, a multiplex chain based in Chennai had its origins in the 'Royal Theatre' built in 1974 and acquired by the Kiran Reddy family in the 1980s. [31] [32] In August 2018, PVR Cinemas acquired SPI Cinemas for ₹850 crore and rebranded the properties as PVR. [33]

INOX Leisure Limited

On 27 March 2022, INOX announced it would be merging with PVR Cinemas, the largest cinema chain in India. [34]

On 12 Jan 2023, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the merger of PVR and INOX. [35]

In February 2023, PVR merged with its rival INOX Leisure to create largest multiplex chain in India. [36] All the new properties opened after the merger with Inox will be branded as 'PVR Inox'. [37] The existing properties owned by PVR and Inox prior to merger will continue to carry 'PVR' and 'Inox' branding respectively. [38] Post-Merger PVR was renamed PVR INOX Ltd., and it is fifth largest listed multiplex chain globally by screen count. [39] [40] 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 [41] [42] which in turn merged with PVR in 2023. [43]

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. [44]

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. [45] 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. [46] Kotak Mahindra Bank and PVR Cinemas partnered to introduce India's first co-branded movie debit card in November 2021. [47]

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. [48] PVR partnered with Maruti Suzuki to launch an innovative 270-degree in-cinema advertising experience utilizing 3D Projection Mapping on theater side walls. [49]

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. [50]

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. [51]

In 2023, PVR hosted the Oscars Film Festival where it screened some of the most popular movies nominated for the 94th Academy Awards. [52] 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. [53] PVR INOX has partnered with Bollywood actor and climate activist Bhumi Pednekar to spread awareness on Climate change. [54]

In November 2023, PVR INOX Ltd live streamed the 2023 ICC Men's Cricket World Cup final between India and Australia held at Narendra Modi Stadium, Ahmedabad in 60 cities across 150 cinemas throughout the country. [55]

In January 2024, PVR INOX Ltd collaborated with Aaj Tak, to broadcast the live streaming of the consecration ceremony of Ram Mandir in Ayodhya on January 22 in 160+ cinemas in more than 70 cities across India. [56]

In January 2024, PVR INOX Ltd has presented the live screening of the traditional Republic Day parade on India’s 75th Republic Day celebrations, on 26th January 2024. PVR INOX broadcast this grand event live with AAJ TAK across its 30 cinemas in 16 cities. [57]

Formats

PVR Gold Screen

PVR's first "Gold Screen" was launched in Indore in 2007. [58]

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. [59]

IMAX (with Laser)

IMAX is a proprietary system of high-resolution cameras, film formats, film projectors, and theaters known for having very large screens with a tall aspect ratio and steep stadium seating. It produces an image approximately ten times larger than that from standard 35 mm film. [60]

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. [61] 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. [62]

PVR ICE

In 2022, PVR Cinemas introduced the first ICE Theatres format in Delhi NCR. [63] This was the first ICE in India and Asia Pacific Region.

P[XL]

PXL Screen is a theatre design or technology introduced by PVR that aims to transform the movie-going experience. It is watching a movie in PVR with an extra-large [XL] experience in form of improved seating, audio-visual quality and screen size. [64]

Awards

For PVR INOX

INOX Leisure

For PVR Cinemas

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