Brands
Sports & experiential ent.: PVR & Major sell bluO to Smaaash for Rs 860 mn
MUMBAI: PVR Ltd today announced that it has entered into definitive agreement with Smaaash Entertainment (‘SMAAASH’) to sell its stake in bluO entertainment, a premium bowling and entertainment format operated by the company.
As part of its national expansion plans, world class gaming and entertainment company Smaaash Entertainment has acquired 100 per cent stake in bluO entertainment (a premium bowling and entertainment format), for a consideration of approximately Rs. 860 million.
bluO is a joint venture between PVR Limited and Major Cineplex Group of Thailand in which PVR owns 51 per cent stake with balance 49 per cent stake held by Major Group. The acquisition marks the doubling of the area under Smaaash management from 276,000 square feet to approximately around 600,000 square feet in India.
The significant acquisition also adds six centres (approximately 210,000 sq. ft. of premium space) across five cities to Smaaash’s existing blueprint of seven centres in India and one in Minneapolis in the United States. The newly acquired centres will operate under Smaaash branding and two more centres are expected to open shortly. Smaaash will introduce its signature games at all bluO centres, which only had bowling before.
PVR chairman & MD Ajay Bijli said, “The sale of bluO is in line with our strategy to divest all non-core assets and focus on our core cinema exhibition business. It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value and provide management a more focused approach for enhancing value in exhibition business. We are pleased to sell the business to Smaaash, which is a leader in retail and entertainment space in India and the US; and believe that they will take the business to even greater heights.”
Smaaash Entertainment chairman & CIO Shripal Morakhia said, “The strategic acquisition of bluO is a significant step in doubling Smaaash’s scale and outreach in India’s fast growing retail entertainment space. The synergies between both brands are deeply symbiotic in creating a network of centers in key cities that are designed as destinations with a relentless focus on wholesome sports, active life, and adventure for urban citizens. We are sure that bluO’s premium locations, infrastructure and F&B offerings, coupled with Smaaash leadership in innovation with new technology and virtual reality, will fill a much-needed gap for experiential entertainment in our country. We are committed to enhancing profitability and revenue per centre while being the custodian of customer smiles in these centres.”
The acquisition comes on the heels of Smaaash’s recent international success story in the Mall of America, Minneapolis, United States.
EY acted as the exclusive financial advisor to the shareholders of PVR bluO for the transaction.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
