INOX Leisure tumbles as CUTS files complaint against proposed PVR-INOX Leisure merger

Inox Leisure is currently trading at Rs. 504.25, down by 20.95 points or 3.99% from its previous closing of Rs. 525.20 on the BSE.

inox leisure surges on launching megaplex in mumbai
Inox Leisure

The scrip opened at Rs. 526.00 and has touched a high and low of Rs. 526.00 and Rs. 503.70 respectively. So far 34321 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 622.30 on 04-Aug-2022 and a 52 week low of Rs. 299.25 on 13-Sep-2021.

Last one week high and low of the scrip stood at Rs. 552.25 and Rs. 503.15 respectively. The current market cap of the company is Rs. 6189.13 crore.

The promoters holding in the company stood at 44.03%, while Institutions and Non-Institutions held 43.25% and 12.72% respectively.

Consumer Unity & Trust Society (CUTS) has filed complaint against the proposed merger agreement between multiplex operators PVR and INOX Leisure, claiming that the deal will have anti-competitive impact on the film exhibition industry. CUTS has approached the Competition Commission of India (CCI) to investigate the matter.

Earlier, PVR and INOX Leisure had declared the merger to create the largest multiplex chain in the country with a network of more than 1,500 screens to unlock the opportunities in tier III, IV and V cities, besides in the developed markets.

INOX Leisure is amongst India’s largest multiplex chains.

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