India-based film entertainment company PVR Ltd. is seeking to secure about $100 million via a qualified institutional placement (QIP) offering.

PVR intends to use the funds for various purposes, including the pursuit of inorganic development.

The company has appointed investment banks Kotak Mahindra Capital and CLSA to manage the fundraising process.

For the nine months ended 31 December, the company generated revenue of $319.3 million, a jump of 28 percent over the revenue recorded in the same period last year.