L&T Finance has picked up 11.41% stake equivalent to 32.93 lakh shares in PVR Ltd.

PVR Ltd today informed NSE that the mode of acquisition is "pledge of shares by promoters".

L&T Finance is a subsidiary of Larsen and Toubro Finance Holdings. It was incorporated as a Non-Banking Finance Company in November 1994.

PVR Ltd is a cinema exhibitor with presence in about 24 cities including all the four metros, according to information available on its website.

Shares of PVR today ended at Rs 285.75 apiece on the BSE, up 0.65% from their previous close.