Pyramid Samira Theatre plans to invest Rs 3 billion in group firms

MUMBAI: Multiplex operator Pyramid Saimira Theatre is planning to invest up to Rs 3 billion in its group companies.

The board of directors also decided to increase the borrowing powers of the company to Rs 30 billion, from the present Rs 15 billion.

Besides, the board also approved the commencement of food and beverages business as contemplated in the `other object` of memorandum of association.

The meeting also considered and took on record that Pyramid Saimira Production International, a subsidiary of the company, is engaged in production of feature films and television content.

Pyramid Saimira Entertainment, Singapore, a wholly owned subsidiary of the company is considering a proposal to acquire majority stake in Pyramid Saimira Production International to leverage and synergize production and distribution operations.