Mumbai: India’s largest multiplex chain operator PVR Ltd on Wednesday launched a so-called qualified institutional placement (QIP) offering, aiming to raise as much as Rs800 crore by selling shares to institutional investors.This is the second equity fundraise by the multiplex operator since the covid-19 pandemic shut down movie theatres in the country for more than six months.
The Indian government allowed cinema halls to open up with restricted capacity from October onwards.In July, PVR raised Rs300 crore from its existing shareholders through a rights issue.