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PVR LTD. - 532689 - Format of Initial Disclosure to be made by an entity identified as a Large Corporate

 Format of Initial Disclosure to be made by an entity identified as a Large Corporate. Sr. No. Particulars Details 1Name of CompayPVR LTD. 2CINL74899DL1995PLC067827 3 Outstanding borrowing of company as on 31st March / 31st December, as applicable (in Rs cr) 1293.00 4Highest Credit Rating during the previous FY AA 4aName of the Credit Rating Agency issuing the Credit Rating mentioned in (4)CRISIL LTD. 5Name of Stock Exchange# in which the fine shall be paid, in case of shortfall in the required borrowing under the frameworkBSE We confirm that we are a Large Corporate as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. YES Name of the Company Secretary: Pankaj Dhawan Designation: Company Secretary cum Compliance Officer EmailId: pankaj.dhawan@pvrcinemas.com Name of the Chief Financial Officer: Nitin Sood Designation: Chief Financial Officer EmailId: nitin.sood@pvrcinemas.com Date: 07/06/2020 Note: In terms para of 3.2(ii) of the circular, beginning F.Y 2022, in the event of shortfall in the mandatory borrowing through debt securities, a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore, an entity identified as LC shall provide, in its initial disclosure for a financial year, the name of Stock Exchange to which it would pay the fine in case of shortfall in the mandatory borrowing through debt markets.
07-06-2020
Bigul

Sylebra Capital Partners laps up PVR shares

 Here's who bought and sold what in some of the key bulk deals of the day.
05-06-2020
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PVR LTD. - 532689 - Disclosure Of Events Or Information Under Reg. 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015.

 This is in continuation to our disclosure under Regulation 30 and filed with you on 11th March, 2020 regarding grant of 4, 34,000 employee stock options approved by the Nomination & Remuneration Committee (NRC) in their meeting held on 11th March, 2020. In this regard, please note that on account of the difficulties faced by the Company due to lock-down imposed by the Government of India and various other State Governments, above 4, 34,000 employee stock options could not be granted to the employees of the Company. Accordingly, NRC at the meeting held on today has withdrawn their previous approval for grant of 4, 34,000 employee stock options. This is for your information and record.
05-06-2020
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PVR LTD. - 532689 - Board Meeting Intimation for Notice Of Board Meeting Pursuant To Regulations 29, 33 And 52 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

 PVR LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 08/06/2020 ,inter alia, to consider and approve Dear Sir, Pursuant to Regulation 29, 33 and 52 of SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015,as amended we wish to intimate you that you that meeting of the Board of Directors of PVR Limited is scheduled to be held on Monday the 8th June 2020 inter-alia to: (a)consider and approve Audited Standalone and Consolidated Financial Results of the Company for the Financial Year ended on 31st March, 2020. (b)consider, among other things, subject to the receipt of applicable regulatory/statutory approvals, raising of funds pursuant to an issue of equity shares of the Company with a face value of Rs. 10/- each, including, through a rights issue, public issue preferential issue or qualified institutions placement as may be permitted under applicable laws. This is submitted for your kind information and necessary records. Kindly take the same on record.
01-06-2020
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Building consumer confidence

 PVR is India's leading cinema chain. It attracted a large and disparate audience of close to 110 million last year
29-05-2020

PVR share price falls 2%, company looks to raise Rs 300 cr via rights issue

 The Ajay Bijli-owned firm is looking to raise around Rs 300 crores via the rights issue route.
22-05-2020

PVR Pictures CEO is skeptical of the streaming platform business model

 After Inox Leisure's much shared allegation of 'fair weather friends', following Sircar's 'Gulabo Sitabo' film release on Amazon Prime, PVR Limited had a somewhat more restrained discussion with analysts on the implications of some film producers releasing movies on OTT platforms. The full discussion is here. Key management comments from Kamal Gianchandani, CEO, PVR Pictures: "It goes without saying, but I would still say that we are definitely disappointed with some of our producers deciding to go straight to the streaming platforms. As Multiplex Association of India, we had requested all the producers to delay their releases and we were hoping that all producers will accede to our requests and would delay there releases till the cinemas reopened. That said, this is not the first time films have gone straight to an alternate distribution platform streaming in this case. Cinemas for long have regularly faced competition from new emerging technologies and distribution platforms." Kamal Gianchandani is skeptical of the success of the streaming platform when it comes to movie releases. He says: "Our sense is that these streaming platforms would be paying a premium of about 15% to 20% for the cost of production simply because it is extremely difficult to calculate the expected box office and hence the easier calculation or negotiation would be to attach a premium to the cost of production which we think would be about 15% to 20%." "How do streaming platforms find this sort of a model sustainable? I think this is a very good question because the fact remains that most of these streaming platforms in India operate on a subscription model. And as you know the subscription fee in India is perhaps the lowest in the world. And hence to expect that is streaming platform would be able to get revenue per eyeball or new acquisitions which will justify these sort acquisition costs is very difficult to imagine. Being in business for a long time, we think most of these acquisitions are tactical in nature." He also noted that box office sales continues to be the barometer of success. "The box office continues to be the most important metric for the producer because it sort of fuels our downstream revenues and which is why actors, directors, producers in most cases are extremely uncomfortable in going straight to a streaming platform because a lot of actors, directors see it as a dilution of their profile. So we have been competing with alternate platforms for many years. Once we are permitted to open, once things settle down a bit, we believe people will come back in big numbers. There is no change in business model, there is no change in consumption pattern the way we see it." The PVR Pictures CEO makes some good arguments. But no one knows how medium term preferences will change. It is hard to predict whether users over time will prefer watching big-budget films in their homes, enabling streaming platforms to do 'premieres' and promote films at the level theatres currently do. Netflix has seen some successes in the US with movie releases such as Marriage Story, but these have been largely 'indie films' rather than big picture blockbusters. Gianchandani is right in that at least in the short term, the movie-going experience for Indians will be difficult for a streaming platform to replace. In 5-10 years time? Tech advancements and possibly, a much wider reach for streaming in a high population country like India could change the equation.
19-05-2020
Bigul

PVR LTD. - Discussion on Movies Releasing on OTT Platforms

 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the officials of the Company have participated in the following investor con-call: Edelweiss Securities 'Conference Call with PVR Ltd.', organized by Edelweiss Securities, on May 18, 2020. This is for your information and records.
19-05-2020
Bigul

Karan Johar to Rohit Shetty, big film producers say no to OTT release

 Sources say the top four multiplex chains in the country - PVR, Inox, Cinepolis, and Carnival - are asking big producers to wait rather than rush to release their films on OTT platforms.
16-05-2020

PVR says it may face liquidity issues if lockdown continues beyond 2-3 months

 Anticipating that it may take some time for people to return to theatres, PVR's Ajay Bijli told CNBC that the company may be forced to lay off people without a bailout from the government.
23-04-2020
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