What happened to PVR Inox shares after multiplex chain launches PVR Inox Passport subscription service

PVR Inox Share Price: In the first trading session after PVR Inox launched a Rs 699 subscription service called PVR Inox Passport, shares of the multiplex chain closed the day 0.57 per cent lower, or Rs 10.05, at Rs 1,743.25 each, on BSE on Monday (October 16).   

PVR INOX shares that closed at Rs 1,753.30 apiece on Friday opened at Rs 1,774.95 on Monday before settling at their current value.

What is PVR Inox Passport subscription service?

In a unique experiment, the multiplex chain on Sunday (October 15) launched a monthly subscription pass for movie lovers.

The pass is available for Rs 699, and a person can watch 10 movies a month except Friday, Saturday, and Sunday.

The pass that is applicable at PVR Inox theatres barring a few from Monday (October 16) has been launched under #PVRHEARDYOU2.

PVR Inox Passport usage conditions-

• Subscription holders can use PVR Inox Passport from Monday to Thursday.  
• One has to subscribe to the service for three months.
• PVR Inox says the subscription charges of Rs 699 are subject to revision solely at its discretion.
• The subscription voucher holder is eligible for 10 visits a month or 30 visits a quarter to select PVR Inox theatres. 

Conditions under which PVR Inox Passport won't work

• The subscription offer is applicable only for normal seats, not for recliners.
• The voucher can be used only once on a movie.
• The subscription vouchers won't be applicable for premium screens like IMAX, Gold, luxe, Drive-in, Insignia, and Director's Cut.
• It will also not be applicable for the entire South region and select theatres (almost 120 screens).

PVR Inox other offers

• PVR Inox is coming up with new offers to increase footfalls at its theatre post-COVID-19 pandemic slump.
• Under the #PVRHEARDYOU campaign, the company reduced F&B prices by almost 40 per cent.
• Prices of sandwiches, burgers, and samosas start at Rs 99 from Monday to Thursday.
• ODI World Cup match screening is on
• As many as 60 lakh people went to watch movies on National Cinema Day on Friday, when the tickets were available for as low as Rs 99.
• The company has also launched a one-rupee trailer screening.
• The company launched One Rupee Trailer screening in April, a 30-minute trailer session to engage audience.