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 of PVR Cinemas.[12][13]
The company started as a joint venture agreement between Priya Exhibitors Private Limited and Village Roadshow of Australia in 1995 with a 60:40 ratio. It began its commercial operations in June 1997 as Priya Village Roadshow. 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.[14] The first PVR Gold Screen was introduced in Forum Mall, Bengaluru.
In 2006, the shares of the Company were listed on the. National Stock Exchange (NSE) and the Bombay. Stock Exchange (BSE).[15]
In 2007, PVR Cinemas ventured into film production with PVR Pictures producing films like 'Taare Zameen Par' and 'Jaane Tu Ya Jaane Na' in its initial years.[16][17]
In 2012, PVR Cinemas partnered with entertainment technology pioneer IMAX to introduce the first-ever IMAX experience in Bengaluru. Following this, they went on to establish 21 IMAX screens across India.[18][19]
INOX Leisure
Inox Leisure Ltd.
Company type Public
Traded as
BSE: 532706
NSE: INOXLEISUR
ISIN INE312H01016
Industry Entertainment
Founded 1999; 26 years ago[20]
Founder Pavan Jain
Fate Merged with PVR Cinemas in March 2023
Headquarters Viraj Towers, Andheri East, Mumbai, India
Number of locations 74 cities (170 multiplexes, 722 screens)[21]
Key people
Pavan Jain (Chairman)
Siddharth Jain (Board Member)[22]
Alok Tandon
(CEO)[23]
Revenue Increase ?1,707 crore (US$200 million)
Owner INOX Group
Number of employees 1500
Subsidiaries
Fame Cinemas
Satyam Cineplex
Website www.inoxmovies.com
INOX Leisure or INOX Movies was an Indian multiplex chain based in Mumbai. The company was incorporated as a public limited company in November 1999.[24] It is a subsidiary of INOX Group (Industrial Oxygen) of companies.[25] In 2002, the company commenced its operation by opening its first four-screen multiplex at Pune and another four-screen multiplex at Vadodara. In 2004, multiplexes were added in Kolkata, Goa, and Mumbai.
In 2006, the company went public by issuing 1,65,00,000 equity shares of ?10 each with pricing of ?120 per share consisting of a fresh issue of 1,20,00,000 equity shares of ?10 each and an offer for sale of 45,00,000 equity shares of ?10 each by Gujarat Fluorochemicals.[26]
Over the years, more screens were added in cities including Bangalore, Chennai, Hyderabad, Jaipur, Indore, Darjeeling, Kota, Rajasthan, Lucknow, Madurai and Coimbatore.[citation needed]
In 2006, INOX acquired 89 Cinemas, owned by Calcutta Cinema Private Ltd (CCPL), in a share swap deal, giving INOX ownership of nine multiplexes in West Bengal and Assam.[27]
INOX acquired Satyam Cineplexes Limited by way of acquisition of 100% of the equity share capital from its existing shareholders which is valued at ?182 crores giving them ownership of multiplexes in NCR, Mysuru and other regions.[28]
According to INOX’s Director Siddharth Jain, in 2018, the Metro INOX multiplex at Mumbai became India's first cinema to be powered by solar power.[29] In 2021, the company installed electric vehicle charging station at its multiplex in Pune and Vadodara.[30]
As of December 2022, INOX had 170 multiplexes and 722 screens in 74 cities of the country.[31] INOX Leisure Limited was the entertainment venture of the INOX Group.