Pyramid Saimira Productions IPO
Media and entertainment house Pyramid Saimira today said it will list its film production unit, Pyramid Saimira Production International Ltd, on the bourses to raise up to Rs 1,800 crore, for which the prospectus will be filed in the next 3-4 months.
“The prospectus is ready and we will file it with the SEBI in the next 3-4 months,” Pyramid Saimira Group Chairman P S Saminathan told PTI.
The company plans to raise about Rs 1,500 to Rs 1,800 crore by diluting 25 per cent of promoters holding through the IPO, he added.
“Our film production unit will be listed on the bourses as Pyramid Saimira Production International Ltd,” he said.
The company today also announced to invest Rs 2,500 crore across different verticals for expansions in the domestic and overseas markets this year.
The film production unit plans to produce over 50 films this year with a total budget of about Rs 600 crore.
Pyramid Saimira has 11 group companies across different verticals in entertainment and media, like film production, distribution and exhibition, TV serial production, radio stations, advertisement, gaming and animation, food and beverages among others.
“All our entities will be listed by 2010 and the production vertical is to be listed first,” Saminathan said.
The group holding company � Pyramid Saimira Theatre Ltd � is the only publicly listed entity on the stock exchanges at present.
