PVR board approves share buyback

Mutliplex and cinema hall operator PVR Ltd late on Friday said its board had approved a buyback of equity shares at a price not exceeding Rs 140 per share for a total of Rs 2,622 crore.

May 30, 2011 / 11:01 IST

26 Aug, 2025 12:21

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Mutliplex and cinema hall operator PVR Ltd late on Friday said its board had approved a buyback of equity shares at a price not exceeding Rs 140 per share for a total of Rs 2,622 crore.

The buyback will constitute upto 10% of the company's paid-up equity capital and free reserves, it said in a statement to the exchange.

Ahead of the announcement, shares of the firm closed at Rs 100.05 on Friday.

Earlier, PVR Ltd Group President and CEO Pramod Arora had said the reasons for the the buyback was that the company "Thinks the stock is underpriced and second the buy back will help the earnings per share."

first published: May 30, 2011 10:50 am

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