New Delhi: PVR INOX Ltd on Monday said its board has approved the sale of its entire equity stake in Zea Maize Private Limited, the company that owns premium gourmet snacking brand 4700BC, to FMCG major Marico Ltd for ₹226.8 crore.
In a regulatory filing, the multiplex operator said it has entered into definitive agreements to transfer its 93.27% holding in Zea Maize to Marico. Upon completion of the transaction, Zea Maize will cease to be a subsidiary of PVR INOX. The divestment is expected to be completed within 30 days, subject to customary closing conditions.
Zea Maize reported a turnover of ₹98.66 crore in FY25, contributing about 1.71% to PVR INOX’s consolidated revenue, while its net worth stood at ₹29.53 crore, accounting for 0.42% of the company’s net worth. The company clarified that Zea Maize is not a material subsidiary.
PVR INOX said the transaction does not qualify as a related-party transaction and is outside the ambit of a scheme of arrangement under SEBI’s listing regulations.
The divestment allows PVR INOX to monetise a non-core investment, while enabling 4700BC to scale under a large FMCG platform. For Marico, the acquisition strengthens its push into premium, value-added food categories.