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Our Bureau

Chennai, April 10

Pyramid Saimira Theatre Ltd, the digital theatre chain, will seek its shareholders approval at an EGM to raise $150 million through foreign currency convertible bonds, to invest in group companies and enhance borrowing limits, according to a press release from Pyramid.

The extraordinary general meeting to be held here on April 19 will seek shareholders' approval to raise $150 million (Rs 645 crore) to fund expansion deals for an international theatre chain, malls, multiplexes in India, promotion of content funds and for film exhibition and distribution business. It also plans to invest, manage loans and provide guarantees to Pyramid Saimira-Theatre Chain Malaysia, Mallplex Pvt Ltd, Badewals Pyramid Development Pvt Ltd in which Pyramid Saimira has a stake.

The company is also promoting Pyramid Saimira Productions Ltd and Pyramid Saimira Content Fund Management Co Pvt Ltd. It also plans to enhance its board's borrowing limit to Rs 1,500 crore from Rs 500 crore.

More Stories on : Overseas Borrowings | Cinema

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