The Hindu : Business : Pyramid Saimira taps market

Online edition of India's National Newspaper
Thursday, Dec 14, 2006
ePaper

Business

Business

Pyramid Saimira taps market

Corporate Reporter

CHENNAI: Pyramid Saimira Theatre, operating a chain of 148 screens across the country, is in the process of expanding the current theatre chain into North India and consolidation of theatres in South India. The company plans to reach 350 screens operational by March 2007 with 9.60 million sq. ft. under operational management. The project also includes the conversion of theatres into digital exhibition systems by installing digital projectors, servers, VSAT terminals and such other audio and video equipment as needed.

The total outlay is estimated at Rs. 111.19 crore. This will be financed through initial public offer (IPO) of Rs. 84.44 crore while pre-issue capital and internal accruals will fetch Rs. 26.75 crore.

The IPO is being made through a 100 per cent book building process.

The issue is open from December 12 to 18, and the price has been fixed at Rs. 88 to Rs. 100 per share.

On completion of the digitalisation of theatres, a new film can be released across many locations without variable cost of prints, the company says in a release.

Pyramid Saimira has a tie-up with Delta Electronics inc. Taiwan for India-specific projectors.

Printer friendly page
Send this article to Friends by E-Mail

Business