Mumbai: Further to its extra ordinary general meeting (EGM) that was held on 14 March, 2008, the board of Pyramid Saimira Theatre has approved an investment of Rs 3 billion (Rs 300 crores) in its group companies.
A sum of Rs 75 crores each has been allotted to the four companies of the group namely Pyramid Saimira Production International, Saimira Realty Pvt Ltd, Saimira Premier Theatres Pvt Ltd and Dimples Cine Advertising Pvt Ltd.
The money will be invested via internal accruals and debt funds raised through private / public offering of securities.
Pyramid Saimira has a total of 52 films under production this year. The company has also announced the production of the first 10 Tamil films this fiscal year.
The company will invest around Rs 350 – 400 million (Rs 35 -40 crores) towards the production of these 10 films.