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Mumbai, July 5 Pyramid Saimira Theatre Ltd has announced that it has issued $90 million (Rs 369 crore) of foreign currency convertible bonds. The proceeds of the issue shall be used for potential strategic acquisitions outside India (permitted by the RBI and the Government of India) and for such other purposes as may be permitted from time to time in compliance with the applicable guidelines issued by the RBI and the Government of India.

The FCCBs will have a maturity of five years and one day and will be convertible into equity shares of the company at a conversion price of Rs 454 per share, which is a premium of approximately 32 per cent, over the close on June 28, at the BSE. The FCCBs will mature on June 4, 2012. The underlying equity shares on conversion will be listed on the BSE and NSE. The FCCBs are going to be listed on the Singapore SE. - Our Bureau

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