Multiplex owner to receive Rs 410 crore towards minimum guarantee and refundable security deposit; Rs 350 crore to be an upfront advance from this amount.
Shares of multiplex chain, PVR, rose around 10 percent on Friday morning as investors bet on the company renewing ticketing arrangement with Bookmyshow and Paytm.
The stock touched an intraday high of Rs 1,211.65 and an intraday low of Rs 1,134.00.
The company renewed its non-exclusive arrangements with Paytm and Bookmyshow for booking and selling the theatre’s ticketing inventory through web and app based platforms for three years.
“PVR is entitled to receive from these aggregators an amount of Rs 410 crore towards minimum guarantee and refundable security deposit for booking the inventory on their platforms,” the company said in a filing to the exchanges. Out of the above amount, the company will get an upfront advance of Rs 350 crore.
The stock has fallen around 14 percent in the past one month, while in the past three days it has gained 6 percent. At 10:24 hrs PVR was quoting at Rs 1,168.15, up Rs 63.85, or 5.78 percent, on the BSE.
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