The Securities and Exchange Board of India (SEBI) may pass disgorgement order against PVR Cinema and its Founder and Chairman Ajay Bijli, on the profit sharing deal with private equity firms Multiples Asset Management and L Capital, sources told Moneycontrol. In other words, PVR and Bijli will have to return the profits made from the deal.
Pramod Arora, Group President & CEO, PVR, says that L Capital is a strategic investor or private equity investor but they will bring also bring lot of value along.
PVR has allotted 28.85 lakh shares at Rs 200 per share to L Capital on preferential basis, reports CNBC-TV18. At 09:28 hrs the share was quoting at Rs 197.05, up Rs 4.10, or 2.12%. It has touched a 52-week high of Rs 199.70.
Ravi Thakran, from LVMH's private equity fund, L Capital, tells Forbes India that he is applying his knowledge from building luxury brands to other aspirational products.
Louis Vuitton Moet Hennesy (LVMH) bought 8 percent stake in Fab India, the Indian clothes and lifestyles products retailer. The stake sale saw the exit of Wolfensohn Capital Partners exit from the company.
L Capital, the investment firm co-funded by luxury group LVMH, is in exclusive talks to buy a stake in India's biggest jewellery retailer Gitanjali, a source close to the matter said on Monday.