Mumbai: Affiliates of private equity firm Warburg Pincus have bought a 14 per cent stake in PVR Ltd for Rs 820 crore ($120.5 million), India's largest cinema chain operator said on Wednesday.
Warburg bought the stake from affiliates of private equity firm Multiples Alternate Asset Management and PVR's founders, the multiplex chain said in a statement.
Multiples Alternate Asset will continue to hold a 14 per cent stake in PVR, while PVR's founders will remain the biggest shareholders with a more than 20 per cent stake, it said.
Shares of PVR, which currently operates 562 screens across 48 cities, closed at a record high after earlier rising as much as 7.7 per cent, in a broader Mumbai market that gained 0.2 per cent.
($1 = Rs 68.0450)
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