PVR Cinemas promoters pledge 11.41 pc stake

PVR Cinemas

Bijli Holdings, owners of PVR Cinemas, today said it has pledged 32.93 lakh shares or 11.41 per cent in the film exhibitor to L&T Finance.

"Bijli Holdings PVT LTD has created pledge against 32.93 lakh shares of PVR Ltd on November 27, 2012 in favour of L&T Finance Limited to secure financial facility...", PVR Cinema said in a filing to stock exchanges.

It was yesterday incorrectly reported that L&T Finance had picked up 11.4 per cent stake in the PVR limited.

L&T Finance is a subsidiary of Larsen and Toubro Finance Holdings. It was incorporated as a Non-Banking Finance Company in November 1994.

PVR Ltd is a cinema exhibitor with presence in about 24 cities including all the four metros, according to information available on its website.

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