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Chennai, March 14

Pyramid Saimira Theatre Ltd has informed the BSE that the members at the Extra Ordinary General Meeting (EGM) of the company held on Friday have unanimously approved raising additional funds through FCCB/GDR/ADR up to $400 million. The members also approved to increase powers to the board to borrow more (from the present Rs 1,500 crore to Rs 3,000 crore) for mortgage, creation of charge or lien on the assets of the company up to Rs 2,500 crore from Rs 1,200 crore. Besides the EGM has permitted the company to get into food and beverages business and given rights for the company to invest additional amount up to Rs 300 crore in group companies.

— Our Bureau

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