PVR INOX

PVR INOX Ltd (formerly Priya Village Roadshow Ltd), formerly known as PVR Cinemas,is an Indian multiplex chain based in Gurgaon. It was formed as a result of the merger between PVR Cinemas and INOX Movies. PVR pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997 at Saket, New Delhi. In 2022, PVR Cinemas achieved the milestone of completing 25 years in the business.

History 

PVR Cinemas has its origin as Priya Cinema in Vasant Vihar, Delhi, the Cinema was named after Priya Jaisinghani and was bought by Ajay Bijli's father in 1978, who also owned a trucking business, Amritsar Transport Co. In 1988, Bijli took over the running of the cinema hall, which was revamped in 1990, and its success led to the founding PVR Cinemas.

The company started as a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow Limited in 1995 with 60:40 ratio. It began its commercial operations in June 1997. The company was founded by Ajay Bijli who is the chairman and managing director of PVR Cinemas. Ajay Bijli's brother Sanjeev Kumar Bijli is the Joint Managing Director of PVR Ltd. The company also operates a pro-active CSR wing under PVR. In 2003, ICICI Ventures invested 40 crore in PVR when Village Roadshow decided to pull out of the partnership.The first PVR Gold Screen was introduced in Forum Mall, Bengaluru.

Mergers and acquisitions

CineMAX 
Cinemax, also known as Cinemax India Ltd, was an Indian cinema chain which owned 138 screens across 39 properties in India, including Ahmedabad, Bangalore, Hyderabad, Kochi, Mumbai, Pune, Kolkata, Kanpur, Bhopal and Nashik. It was previously owned by the Kanakia group but later bought by Cine Hospitality Private Ltd, a subsidiary of PVR Cinemas.  The acquired properties were renamed as PVR Cinemas in a phased manner over the years.

DT Cinemas 
In May 2016, DLF group owned DT Cinemas was bought by PVR Cinemas for .

SPI Cinemas 
SPI Cinemas, a premium multiplex chain based in Chennai had its origins in the "Royal Theatre Complex" built by Raja from Venkatagiri in April 1974 and acquired by the Reddy family in the 1980s. Kiran Reddy, the then CEO of SPI Group took over the business in 1999 and continued developing the theatre, adding three more screens and refurbishing the existing three. The company was often lauded for its premium quality and inexpensive pricing. The group was notable for being the first multiplex operator in India to equip its screens with the Dolby Atmos and Auro 11.1 sound systems.

In August 2018, PVR Cinemas announced their acquisition of SPI Cinemas for ₹850 crore in a cash and stock deal. In August 2019, the National Company Law Tribunal (NCLT) New Delhi-branch approved the amalgamation of SPI Cinemas into PVR Cinemas with effect from the appointed date of 17 August 2018, PVR said in the exchange filing.

INOX Leisure Limited 
On 12 Jan 2023, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the merger of PVR and INOX. In February 2023, PVR merged with its rival INOX Leisure to create largest multiplex chain in India. All the new properties opened after the merger with Inox will be branded as 'PVR Inox'. The existing properties owned by PVR and Inox prior to merger will continue to carry 'PVR' and 'Inox' branding respectively.Post-Merger PVR was renamed PVR INOX Ltd., and it is fifth largest listed multiplex chain globally by screen count. PVR currently is in process of creating a unified rewards system in place of PVR Privilege and Inox Rewards that will be used across both PVR and Inox properties. A unified booking portal and app will also be launched soon in place of PVR and Inox websites and apps. The merged entity has plans to open 150+ screens every year and enter Tier 3, Tier 4 cities in India to provide ultimate movie viewing experience which currently is mostly restricted to Tier 1 and Tier 2 cities.

Luxe Cinemas 
Luxe, a premium multiplex with 11 screens operating at Phoenix MarketCity Mall, Chennai owned by Jazz Cinemas was acquired by INOX in October 2022 which in turn merged with PVR in 2023.

PVR Inox Pictures 
PVR INOX pictures is the movie distribution arm of PVR Inox Ltd. It was earlier named as PVR Pictures but post the merger with Inox leisure, it was rebranded as PVR INOX Pictures.

Collaborations 
In October 2021, PVR announced their collaboration with the film RRR as part of the film's promotion. Accordingly, PVR would rebrand itself as PVRRR across the multiplex chain's 170+ properties in over 70 cities for a few months following the film's release on 25 March 2022. As part of the promotions, they also launched an exclusive NFT (non-fungible token) collection for the film. About 300 digital collectibles including posters signed by director S. S. Rajamouli and the lead cast including Ram Charan, N. T. Rama Rao Jr. and Alia Bhatt and props used in the film were made available to fans as memorabilia.

In June 2022, PVR announced a collaboration with French high-end theatre company, Ice Theatres, part of CGR Theatres, to open new premium theatres in India.

PVR also expanded its preferred partnership agreement with laser cinema solutions provider Cinionic to power all of its screens with Barco Series 4 4K laser projection. On completion of this roll-out, PVR would become the first exhibition chain in India to go 100 per cent 4K RGB laser projection. 

In 2022, PVR Cinemas entered into an exclusive partnership with Visa, the official payments technology partner of FIFA for organizing ‘FIFA World Cup 2022TM Viewing Parties’ across 11 properties in 8 cities.

In 2023, PVR hosted the Oscars Film Festival where it screened some of the most popular movies nominated for the 94th Academy Awards. PVR INOX also partnered with INGKA Centers, part of IKEA's retail operator INGKA Holding for its upcoming Gurgaon center to open a nine-screen movie theatre.

Formats

PVR Gold Screen 
PVR's first "Gold Screen" was launched in Indore in 2007.

PVR Superplex 
In 2014, PVR Cinemas introduced Superplex format in Noida. The cinema has 15 screens with IMAX, 4DX, Gold Class, a playhouse and mainstream auditoriums. PVR Cinemas has invested ₹48 crores in this new venture. PVR also joined hands with friends group and business venture was called FRIENDS CINEMA

PVR Playhouse 
PVR Playhouse includes a special movie auditorium showcasing children's movies/animated content. Along with a slide to play on, it offers bean bags and rubberised seats for kids and parents. This format is available only in Bengaluru, Chennai, Delhi, Hyderabad, Indore and Mumbai.

PVR 4DX 
In 2016, PVR's 4DX became the second movie theater chain in India to introduce 4DX in the country after Cinépolis.

PVR ICE 
In 2022, PVR Cinemas introduced the first ICE Theatres format in Delhi NCR. This was the first ICE in India and Asia Pacific Region.

Gallery

References 

Cinema chains in India
Companies based in Gurgaon
Entertainment companies established in 1997
1997 establishments in Haryana
Warburg Pincus companies
Companies listed on the National Stock Exchange of India
Companies listed on the Bombay Stock Exchange