Television

Pyramid Saimira to form JV for 100 malls, plans to raise Rs 4 billion

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/04/Pyramid%20Saimira.jpg?itok=E_jXRjAe

MUMBAI: Chennai-based theatre chain company Pyramid Saimira will enter into a 40:60 joint venture with a leading real estate company for setting up 100 malls entailing an investment of Rs 60 billion.

The buzz is that Pyramid will sign the deal with IVRCL Infrastructure and Projects Ltd. "We are in talks with three leading real estate developers including IVRCL but haven't concluded anything yet. All the three are listed companies," says Pyramid Saimira Theatre Ltd. managing director PS Saminathan.

Pyramid Saimira will raise around Rs 4 billion through a foreign currency convertible bond (FCCB) or a qualified institutional placement (QIP) as its share of funding for the project. "We could even go for a mix of both FCCB and QIP. We have no debt in the company and can leverage our cash balance. The equity dilution will be around 5-6 per cent," says Saminathan.

Pyramid will set up a special purpose vehicle for the project. The company has identified 700 locations in South India, out of which 200 it has found feasible for sustaining a multiplex or mall. In West Bengal it will have 15 locations for its malls and multiplexes, four of which will be in Kolkata. "Every location should be able to generate Rs 500 million from the second year of operations for it to be viable," says Saminathan.

The plan is to have 300 screens through this venture. The malls, covering 20-25 million square feet of space, will be spread across the southern states of India and West Bengal. "We will have 50 per cent of the malls dedicated for the entertainment sector," says Saminathan.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/TNA.jpg?itok=rhthsXVE
Sony & Impact to produce maiden wrestling show in Mumbai

MUMBAI: Sony Pictures Networks India (SPN) and IMPACT Wrestling will, for the first time in professional wrestling history, produce the North American-based wrestling promotion show in the bustling city of Mumbai. Episodes of the highly engaging sport which are usually shot in the Northern...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/IIFA.jpg?itok=spnmoMXV
IIFA announces technical winners, ADHM & Pink lead

MUMBAI: The International Indian Film Academy announced the list of winners in the Technical categories of India’s most prominent awards celebration that honors the very best of Indian Cinema with the highest level of achievement seen through the glamorous IIFA statuette. Set to be held at the...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/Shubhas-02-Story.jpg?itok=qjtiOE8S
Print business demerger: Zee Media awaits National Company Law Tribunal approval

MUMBAI: Essel group company Zee Media Corp had got shareholder approval earlier this year to demerge its print media business which includes its newspaper DNA into Diligent Media Corp Ltd (DMCL) and merge two other firms - Mediavest India Pvt Ltd and Pri-Media Services Pvt into - DMCL. The...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/Arnab-Goswami.jpg?itok=9issj7zi
India Today gives its POV on Republic TV writ petition

MUMBAI: TV Today which runs a clutch of channels, including the English language news channel India Today, announced that it has withdrawn its petition in the Delhi high court against the Arnab Goswami-led Republic TV.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/MK_Anand-Times_Now.jpg?itok=I2IKHtJC
Sad that man of such stature stole Times IPs: BCCL

MUMBAI: The Delhi High Court has issued a notice to former Times Now editor Arnab Goswami (Republic TV founder and editor) for breach of employment contract and the misuse of intellectual property of Times Now. Times Now MD and CEO MK Anand said that the management had discovered the thefts only...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/Namit%20Malhotra.jpg?itok=kCFdO9_c
Prime Focus turns around

BENGALURU: Prime Focus Limited (PFL) has reported robust financial performance, including consolidated profit after tax (PAT) for the period ended 31 March 2017 (quarter – Q4-17 and current quarter, current fiscal; year FY-17 and current year) as compared to the corresponding year ago periods – Q4-...

Television TV Shows Animation
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/25/republic.jpg?itok=o0PjOXHF
HC rejects TV Today plea against publishing Republic TV's ratings

The high court on Thursday evening rejected TV Today's plea against Republic TV, channel sources told indiantelevision.com.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/25/Guest-Coloum-Story.jpg?itok=a9rnMijr
GUEST COLUMN: Is The Current News Dumbing Us Down?

“Sonu Nigam Quits Twitter!!”flashed on my TV screen today morning. We obviously thought this was worthy of coverage at a national level, because the ‘breaking news’ kept playing in loop for a considerable period of time. 

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/25/Republic-02-Story.jpg?itok=O83ztOyx
Republic TV continues to lead English News genre in week after debut

Republic TV claims to have cornered a viewership of 49 per cent for week 20 of 2017 (Saturday 13 May 2017 to Friday 19 May 2017) on its channel.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories