Brands
PVR Limited files draft Red Herring Prospectus with Sebi
MUMBAI: Delhi-headquartered multiplex cinema operator PVR Limited has filed its Draft Red Herring Prospectus with the Securities & Exchange Board of India (SEBI) to enter the capital market with its initial public offering of 7,700,000 equity shares of Rs. 10 each for cash at a price to be determined through the book building process.
The Book Running Lead Managers to the issue are ICICI Securities Limited and Kotak Mahindra Capital Company Limited.
The proceeds from the Issue would be utilised to finance new cinema projects, expand film distribution business, technological upgradation and renovation of cinemas. The Company plans to expand its cinema footprint and set up new cinemas in Mumbai, Hyderabad, Delhi, Indore, Gurgaon, Lucknow, Chennai, Ludhiana, Aurangabad and Latur, states an official release.
The issue comprises of a fresh issue of 5,700,000 equity shares by the company and an offer for sale of 2,000,000 equity shares by The Western India Trustee and Executor Company Limited in its capacity as trustee of India Advantage Fund – I acting through its investment manager ICICI Venture Funds Management Company Limited.
The issue comprises of a contribution from the promoters of 300,000 equity shares by Priya Exhibitors Private Limited, one of the promoters of PVR Limited, and a reservation for employees of 150,000 equity shares. Thus, the net issue to public stands at 7,250,000 equity shares, the release adds.
Of the net issue to public, up to 50 per cent i.e. up to 3,625,000 equity shares are reserved for allocation to the Qualified Institutional Buyers including Mutual Funds, on a proportionate basis. Out of this reserved portion, 5 per cent or 181.250 equity shares have been exclusively reserved for allotment to Mutual Funds on a proportionate basis.
Of the balance, at least15 per cent of the net issue (at least 1,087,500 equity shares) have been reserved for allocation to Non-institutional investors and at least 35 per cent of the net issue i.e. at least 2,537,500 equity shares have been reserved for allocation to retail investors on a proportionate basis.
The issue will constitute 33.66 per cent of the fully diluted post-issue capital of the company of Rs. 228.7 million.
Brands
Devyani International names Sandeep Anand, Robinder Singh in key roles
Pizza Hut and Costa Coffee businesses see leadership refresh from April
MUMBAI: Devyani International has strengthened its senior leadership bench with a fresh set of appointments across its key brands, Pizza Hut and Costa Coffee, signalling a sharper focus on growth and brand momentum.
The company has appointed Sandeep Anand as chief marketing officer and business head for Pizza Hut. His appointment, approved by the board via a circular resolution on April 3, follows a recommendation by the Nomination and Remuneration Committee, as reported by CNBC-TV18. Anand will officially step into the role on April 6, 2026.
He takes over from Vijay Gogate, who currently serves as chief executive officer for Pizza Hut within the company’s operations. The move marks a strategic transition as the brand looks to sharpen its marketing and business playbook in a competitive quick service restaurant market.
Anand brings over two decades of experience across the food and FMCG sectors, with a strong track record in brand building and innovation. His career spans roles at major consumer-facing companies including Domino’s, Zydus Wellness, Zomato, GSK Consumer Healthcare, Reckitt and Ranbaxy, giving him a well-rounded perspective on both scale and agility.
Alongside this, Robinder Singh has been appointed business head for Costa Coffee and the company’s airport operations. He too will assume his new role on April 6, bringing more than 18 years of experience in operations, business expansion and customer experience transformation.
The twin appointments come at a time when Devyani International is doubling down on leadership depth to steer its portfolio through evolving consumer preferences and heightened competition. With fresh faces at the helm of two key verticals, the company appears set to brew up its next phase of growth with renewed energy.
