Indian Multiplex operator, Pyramid Saimira Theatre Ltd (PSTL) is raising a sum of $ 450 million by issuing shares to qualified institutional buyers (QIBs). The company’s board has given its approval for the same.
Pyramid aims to produce ten Tamil films this fiscal year. PSTL operates a total of 765 screens with a seating capacity of 4.86 lakhs. PSTL plans to expand its presence in film exhibition, production and distribution.
Earlier Pyramid Saimira has announced that the company has entered the Chinese market. The company has signed a Memorandum of Cultural Cooperation with CSMRB, Ministry of Culture, Government of People’s Republic of China to enter the Chinese market.