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Pyramid Saimira to raise Rs 844 million via IPO, sets price band at Rs 88-100
MUMBAI: Chennai-based cinema chain Pyramid Saimira plans to raise Rs 844.4 million through a public float to part-finance its expansion plans. This includes refurbishing theatres after taking them on long term lease and installing digital systems of delivery.
The issue, which opens on 11 December and closes on 18 December, will have a price band of Rs 88 to Rs 100 per equity share of Rs 10 each. The initial public offering (IPO) will be entirely through the book building process.The total fund requirement is estimated at Rs 1.11 billion. The funding will be met through pre-issue capital and internal accruals of Rs 267.5 million, in addition to the IPO.
For refurbishing the theatres, the company plans to invest Rs 368 million while digitalisation process will absorb Rs 241.4 million. The other big investment of Rs 203.4 million will be towards recoverable security deposit with theatres and multiplexes.
The company plans to tie up with 120 theatres in A locations and 235 threatres in B and C locations by March 2007. The average length of the lease varies from five to 15 years with the option to extend it.
Pyramid Saimira has tied up with Delta Electronics, Taiwan, for digital projectors, Real Image Media for video servers and Tatanet for the utilisation of their broadband VSAT infrastructure. Arasor Inc, USA, will provide for next generation laser projection technology, Valuable Media for end-to-end digital cinema solution on pay-per-use basis in 1000 Pyramid theatrical locations and Prasad Labs for digital conversion.
With focus on tier II cities, Pyramid plans to have a pan India presence. “We are currently present in the southern states. But we are soon spreading out to Punjab, Haryana and Rajasthan,” says Pyramid Saimira Theatre managing director PS Saminathan. The company has tied up with Spirit Global Constructions which shall construct 60 propoerties in Punjab while Swatantra Land & Finance shall offer 22 properties at Haryana and 20 properties at Rajasthan.
“We plan to have over 2000 screens in 1550 locations across India with 58.75 million sq. ft. under operational management by 2010,” says Saminathan. The company currently has 148 screens operational with over 1.8 million sq. ft.
The company is close to signing a deal with Chinese government to run 7,000 theatres on the mainland. Bennett Coleman and Company Ltd (BCCL), publishers of The Times of India and The Economic Times, has bought a small stake in the company.
Among the promoters of Pyramid Saimira include noted Tamil film producer V Natarajan and Saminathan who owned a cable TV network in parts of Tamil Nadu.
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Kamlesh Singh receives Haldi Ghati Award from MMCF
India Today Group editor honoured for three decades of journalism at Udaipur ceremony.
MUMBAI- Kamlesh Singh just turned a lifetime of sharp words into a shiny shield because when journalism wakes up a society, even the Maharana of Mewar wants to pin a medal on it.
The Maharana of Mewar Charitable Foundation (MMCF) conferred its prestigious Haldi Ghati Award on Kamlesh Singh, a senior editor at the India Today Group, during a ceremony in Udaipur on 15 March 2026. The national award, instituted in 1981-82, recognises “work of permanent value that initiates an awakening in society through the medium of journalism.”
Singh, who leads several editorial initiatives including Aaj Tak Radio, the Teen Taal community and The Lallantop, was presented the honour by Lakshyaraj Singh Mewar, Managing Trustee of MMCF. The citation highlighted his three decades of contributions to Indian media, innovations in digital journalism, mentoring young reporters, and his popular podcast persona “Tau” on Teen Taal, which fosters thoughtful public discourse.
The Haldi Ghati Award, named after the historic Battle of Haldighati symbolising valour and resilience, is one of four national awards given annually by MMCF. Past recipients include Tavleen Singh, Piyush Pandey and Raj Chengappa.
Other honourees this year included Padma Vibhushan Pt Hari Prasad Chaurasia, Vedamurti Devvrat Rekhe, Treeman of India Marimuthu Yoganathan, Vir Chakra Capt Rizwan Malik, and US-based researcher Molly Emma Aitken, who received the Colonel James Tod Award for contributions to understanding Mewar’s spirit and values.
In an era where headlines often shout louder than substance, the MMCF quietly reminded everyone that real journalism isn’t about noise, it’s about the quiet, persistent work that stirs society awake, one thoughtful story at a time.
