PVR Inox shares plunge 8% as stock sees sharpest fall in six months

PVR Inox shares came under pressure on Monday, falling as much as 8% to ₹1,128.50 on the BSE during intra-day trading. It was the sharpest intra-day decline in the multiplex operator's stock in six months. 

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The last significant decline occurred on March 2, 2026, when PVR Inox fell 12% during the day.  

The company allegedly ordered a top executive to retire in April after conducting an internal investigation into alleged payments received from developers engaged in the development of movie theatres, which resulted in the autumn. 

On the BSE, PVR Inox was trading at ₹1,150 at 9:54 am, down 6%. Concurrently, the Sensex had a 0.31% decline. The NSE and BSE had seen the exchange of about a million PVR Inox shares.  

The Economic Times said that the business had investigated purported payments from developers involved in movie theatre developments. According to reports, the payments could have reached ₹200 crore and were made over a number of years. 

Pramod Arora, who oversaw Growth & Investment and contributed to PVR's growth into smaller cities, is the executive mentioned in the study. Arora resigned in May 2026, according to a note from ICICI Securities. 

The company became aware of the allegations sometime in April, after which Arora and a few other employees were asked to leave with immediate effect. 

A declaration signed by Arora also restricted him from joining rival cinema chains and approaching PVR Inox's existing vendors. The document provides for possible legal action if those restrictions are breached. 

PVR Inox's FY26 annual report said Arora, who was Chief Executive Officer-Growth & Investment and Chief Cost & Operational Efficiency Officer, stepped down from those positions with effect from May 24, 2026. The report said his resignation from the company's services was due to personal reasons. 

In 2023, PVR and Inox Leisure merged to form PVR Inox. The company had 1,786 screens in 356 locations throughout 113 cities in Sri Lanka and India as of late August. Over the next five years, it intends to add an additional 1,000 screens, with a sizable portion of those additions anticipated to come from franchise-led expansion. 

Buyback at ₹1,450 per share 

On August 31, 2026, the board of PVR Inox accepted a proposal to repurchase up to 2.07 million fully paid-up equity shares at a price of ₹1,450 each. The buyback will be paid for in cash and has a maximum value of ₹300 crore.  

On September 4, the shares became exempt for the buyback. The board also noted that the promoter and members of the promoter group intended to participate in the buyback. 

The company is carrying out the buyback through the tender offer route, under which eligible shareholders can offer their shares to PVR Inox at the announced price of ₹1,450 per share.