Pyramid Saimira to raise $60 mn overseas


    MUMBAI: Pyramid Saimira Theatre Ltd is mulling listing its Singapore based distribution arm – Pyramid Saimira Entertainment Ltd on London Stock Exchange’s Alternative Investment Market (AIM) or Euronext N.V., which is a pan-European stock exchange based in Paris shortly.

    Industry sources inform that the company plans to raise $ 60 million overseas.

    The purpose of setting up Pyramid Saimira Entertainment in Singapore was to agglomerate Indian content and distribute it across the world using various technologies including theatres, DVDs and satellite.

    At the time of filing this report, Pyramid Saimira Theatre managing director PS Saminathan was not available for comment.

    As has already been reported by, the company’s film production arm Pyramid Saimira Production is also planning an IPO (initial public offering) of Rs 1.5 billion (Rs 150 crores). The company will be filing its paper with the Security Exchange Board of India (SEBI) in 15 days. The money being raised through the IPO will be utilized for the production of 60 films in Bollywood and south Indian languages.

    Pyramid Saimira Productions made its full fledge foray into Bollywood by acquiring the worldwide distribution rights of Rajkumar Santoshi’s Halla Bol from The Indian Film Company. Until now, the company had been acquiring rights of Hindi films only for the South territories.

    Pyramid Saimira Theatre is involved with distribution of Indian cinema content across the globe and Hollywood content in Asia Pacific. The company recently also acquired Texas-based FunAsia in order to tap the American US market.