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
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
