The Film exhibition firm PVR Ltd said that it will raise Rs 350 crore from an Indian private equity firm Multiple Alternate Asset Management, that will pick up 10.7% stake in company.

The company said in a statement that a definitive agreement with funds managed by Multiple Alternate Asset Management has been signed by PVR, under which the PE firm through its funds would subscribe 50 lakh equity shares of the multiplex chain operator for a 10.7 per cent fully diluted stake.

And it added that the board of the company on Friday has approved issuing the equity shares at a price of Rs 700 apiece on a preferential basis.

Read profitable intraday trading tips