Pyramid Saimira plans IPO for content arm ...

Inimitable Growth continues…
Pyramid Saimira, a prominent pioneer in the entertainment arena has struck again with a big bang by embarking on western region. By acquiring dimples cine advertising it is building up a strong threshold in that region. Since bollywood is reckoning in terms of its growth in entertainment segment,to cash in on this growth trajectory a strategic alliance with dimples cine advertising is a preemptive approach.
DNA, one of the leading paper had come up with the report of Pyramid Saimira’s aggressive IPO plans to be executed in the month of December and had commended the initiative taken by Pyramid Saimira to strengthen its productions line, the report highly appreciated the efforts taken by Pyramid Saimira to synergies the TV content operation as well and take it to unimaginable levels at the earliest.
Pyramid Saimira plans IPO for content arm ...
Nirmal John ,, Thursday, November 29, 2007 03:38 IST
MUMBAI: Chennai-based Pyramid Saimira group is planning an IPO of its content production subsidiary Pyramid Saimira Productions, which is expected to raise around Rs 750 crore through this. The proceeds will then be invested to increase production of television content as well as for feature film production. P S Saminathan, MD, Pyramid Samira Theatre, said: “The papers for the IPO are being put together and we should be taking the next step in December.”
He added the company would be producing one multi-lingual film every year with a budget of Rs 150 crore. This film would then be distributed across various parts of the world in different languages. Announcement on the first such film is expected in January.
In terms of television content, the company, which currently produces around 2.5 hours of content daily will increase it to 24 hours of content eventually.
In a bid to expand its activities into Europe, the company is also planning to acquire a UK-based exhibitor through the leveraged buyout route. Saminathan indicated that talks were on for the transaction, which would possibly cost the company in the region of $100 million.
Pyramid is currently present in Malaysia, Singapore and the US besides India. It also has plans for a DVD rental chain, catering primarily to the Indian diaspora.
http://www.dnaindia.com/report.asp?newsid=1136111