PVR Ltd has secured Rs 800 crore by issuing shares to a set of investors through qualified institutional placement (QIP).
Multiplex operator’s QIP witnessed an allotment of more than 55.55 lakh equity shares to eligible qualified institutional buyers (QIBs) at a price of Rs 1,440 apiece.
PVR said in a regulatory filing, “The fund raise committee of the company approved the issue and allotment of 55,55,555 equity shares to eligible QIBs at the issue price of ₹1,440 per equity share, aggregating to approx Rs 800 crore.”
PVR’s issue opened on January 27, 2021, and closed on February 1, 2021.
Somany Impresa Group has announced the appointment of Shashvat Somany as the Head of Strategy. This strategic move signifies a significant step in the Group's expansive plans across its various companies, including AGI Greenpac, Hindware Home Innovation Limited, and Hindware Limited. Shashvat will play a crucial role in shaping the long-term strategic direction, collaborating closely with business leaders for the Group's ambitious growth and diversification.
In his new role, Shashvat will take charge of steering the Group's innovation and business expansion initiatives. His primary focus will be on leading AGI's global expansion initiatives, formulating a strategic roadmap to establish a strong international presence. Shashvat will also be tasked with exploring strategic partnerships, fostering innovative collaborations, and evaluating potential ventures to further enhance the Group's presence in the building products and packaging products sector.
Beyond these strategic initiatives, Shashvat will concentrate on enhancing the capabilities of the data and analytics teams, contributing to the Group's digitalization efforts. His primary objective is to ensure a comprehensive and forward-looking integration of technology across the businesses, positioning Somany Impresa Group for success in the digital age.
"I am thrilled to embark on this new chapter with Somany Impresa Group. The Group's commitment to innovation and forward-thinking approach is truly inspiring. I am confident that my experience and collaborative spirit will contribute to our ambitious expansion and diversification goals,” said Shashvat Somany, Head of Strategy, Somany Impresa Group.
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