Key Highlights
- PVR INOX approved sale of its entire 93.27% stake in Zea Maize Private Limited.
- Transaction consideration fixed at ₹226.8 crore in cash.
- Zea Maize owns the packaged popcorn and snacking brand 4700BC.
- Deal expected to close within 30 days subject to customary conditions.
- Zea Maize contributed 1.71% of turnover and 0.42% of net worth in the last financial year.
PVR INOX Limited has approved the sale of its entire shareholding in its subsidiary Zea Maize Private Limited to Marico Limited. The decision was approved by a duly authorised committee of the board of directors at its meeting held on January 26, 2026, in compliance with applicable SEBI listing regulations.
The transaction involves the divestment of a 93.27% equity stake in Zea Maize for a total cash consideration of ₹226.8 crore. Following the completion of the transaction, Zea Maize will cease to be a subsidiary of PVR INOX. The company has entered into definitive agreements with Marico, and the sale is expected to be completed within 30 days, subject to customary closing conditions.
Zea Maize Private Limited owns 4700BC, a well-established ready-to-eat popcorn and snacking brand in India. The brand has built strong visibility across multiplexes, modern retail outlets, and online platforms, and is positioned in the premium packaged snacks segment. 4700BC is known for its flavoured popcorn range and convenience-focused offerings targeted at urban consumers.
Zea Maize is not a material subsidiary of PVR INOX and is not listed on any stock exchange. In the last financial year, the subsidiary reported a turnover of ₹98.66 crore, accounting for 1.71% of PVR INOX’s consolidated turnover, while its net worth stood at ₹29.53 crore, contributing 0.42% to the group’s net worth.
Marico Limited, the acquirer, is one of India’s leading consumer goods companies with a strong presence in food, beauty, and wellness categories across India and select international markets. PVR INOX clarified that the transaction does not qualify as a related party transaction and has been executed on an arm’s length basis.