PVR INOX Limited has approved the sale of its entire shareholding in its subsidiary, Zea Maize Private Limited (ZMPL), to Marico Limited for a consideration of ₹226.8 crore.
The decision was taken by a duly authorised committee of the board at its meeting held on January 26, 2026. Following the completion of the transaction, ZMPL will cease to be a subsidiary of PVR INOX.
ZMPL owns the popular popcorn brand “4700BC”, and PVR INOX currently holds 93.27% of its paid-up equity share capital. The company has entered into definitive agreements with Marico for the transfer of shares, and the deal is expected to be completed within 30 days, subject to customary closing conditions.
ZMPL is not a material subsidiary of PVR INOX and is not listed on any stock exchange. During the last financial year, ZMPL contributed ₹98.66 crore to PVR INOX’s turnover, accounting for 1.71% of total revenue, and had a net worth contribution of ₹29.53 crore, or 0.42%.
Marico, the buyer, is one of India’s leading consumer goods companies with a strong presence in beauty and wellness products across India and select international markets. PVR INOX clarified that Marico does not belong to the promoter or promoter group of the company and that the transaction does not fall under related party transactions.