Television

Pyramid Saimira plans Rs 3 billion film funding, ties up with banks

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/12/Pyramid%20Saimira.jpg?itok=qQqYk4re

MUMBAI: Financial institutions are structuring film financing in innovative ways. Chennai-based cinema chain operator Pyramid Saimira Theatre Ltd has tied up with banks, an insurance company and a film completion bond firm to provide an annual corpus of Rs 3 billion for funding film producers.

IDBI Bank and HDFC have taken the lead and the guarantees from Infinity Film Completion Services (IFCS) will be re-insured by General Insurance Corporation (GIC). IFCS is a division of Infinity India Advisors Pvt Ltd.

Pyramid Saimira plans to produce 25 movies through this route. "Our company will act as the guarantor to the banks for funding the producers. We will own all rights of exploitation including theatrical, satellite TV and international. This will provide a content pipeline of 25 films for our theatres. As we are also in film distribution, this will complete the value chain in the movie business," says Pyramid Saimira managing director PS Saminathan.

Pyramid has entered into an MOU with IFCS which will issue the completion guarantee for films to be procured by the company in the languages of Tamil, Telugu, Kannada and Malayalam. These guarantees are fully re-insured by GIC. This agreement is a major step towards creation of film content supply chain for us and in effect indirectly funds close to Rs 3 billion of working capital as off balance sheet funding," says Saminathan.

The company will, thus, be able to build of library of movies while feeding the supply chain to the theatres and the distribution business. "Besides, film producers will get access to cheaper and organised finance. The banks will be charging around 14 per cent interest as against the unorganised charge of 40 per cent," says Saminathan.

Pyramid Saimira recently raised Rs 844.4 million through a public float to part-finance its expansion plans. This included refurbishing theatres after taking them on long term lease and installing digital systems of delivery.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/16/Disney.jpg?itok=y-wLuswx
Disney’s Marvel HQ to offer fresh content

The Walt Disney Company India is making some changes to its newly renamed channel Marvel HQ. To attract viewers, the chanel will undergo a content change. The channel aims to transport viewers into the world of epic storytelling told through inspiring characters and will reach out to kids 9+ (boys...

Television TV Channels Kids
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/16/Untitled-1.jpg?itok=9497NWug
Ad, subscription revenues drive Zeel numbers up for third quarter

The Subhash Chandra led Zee Entertainment Enterprises Limited reported 17.9 percent year-on year (y-o-y) growth in operating revenue at Rs 2,166.77 crore for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the Rs 1,838.07 crore for the corresponding year...

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/dsport.jpg?itok=aG_5Yuxw
DSPORT to telecast marquee european tour events in india

DSPORT, a premium sports channel of Discovery Communications, will broadcast live , Marquee events from the European Tour 2019, Europe’s premiere and one of golf’s strongest professional tours featuring some of the world’s top professional golfers.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/tv_0.jpg?itok=VNea0CHD
TV18 boosts Network18 numbers for third quarter

Mukesh Dhirbhai Ambani’s media arm, Network18 reported improved numbers for the quarter ended 31 December 2018 (Q3 2019, quarter under review) as compared to the corresponding year ago quarter Q3 2018).

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/nm.jpg?itok=Saurl_Ya
PM Narendra Modi's interview with ANI News garners 5.9 mn impressions

Indian PM Narendra Modi gave an interview to ANI News on 1 January 2019. It raked in 5.9 million impressions in the Hindi news genre, according to BARC India.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/cc.jpg?itok=jIb76f5i
Comedy Central and BSF join forces to ‘Spread The Cheer’ among the Jawans in Jammu

Comedy Central – India’s leading 24-hour English Entertainment channel is committed towards making India smile and spreading cheer in citizens’ lives.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/14/discovery.jpg?itok=xC9KADws
Discovery Channel to premiere epic Docu-Drama ‘First Man'

Who are we? Where did we come from? What makes us human? The two hour special First Man, premiering on Discovery Channel on January 15 at 9:00 pm

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/14/tv_0.jpg?itok=ilxqj_Zc
&TV presents an unusual love story Main Bhi Ardhangini

It is often said that a man’s life can never be complete without a wife i.e. his ‘Ardhangini’ or his better half. Donning multiple roles

Television TV Channels GECs
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/14/fanney.jpg?itok=J0nHnxV5
Follow your passion with this slice-of-life story of Fanney Khan with its World Television Premiere Only on Sony MAX

Set to conquer the world battling the daily rat-race, a father-daughter duo is passionate to achieve their goals against all odds.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories