Television

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

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

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

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/10/shemaroo.jpg?itok=1_dwXWSI
Shemaroo Entertainment launches ComiCon

MUMBAI: To engage and entertain Bollywood fanatics, Shemaroo Entertainment has aesthetically converted iconic movies into delightful comic format. Iconic Bollywood movies will now be available as comic books for Bollywood fans to read and experience the fun through words. These comics will be...

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/10/jumnji.jpg?itok=3520HKSU
&flix brings the #FlixFirstScreening of ‘Jumanji: The Next Level’

MUMBAI: A terrifying jungle, gigantic beasts and a squad on the run! &flix, the destination for the biggest Hollywood hits, is set to bring the next #FlixFirstScreening – catch the adventure-fantasy hit ‘Jumanji: The Next Level’. A chance to #LeapForth into the world of action, adventure and...

Television TV Channels English Entertainment
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/10/zee.jpg?itok=FuLq3Ylh
Zee Telugu to premiere ‘Dhrusti’ on 15 Dec

MUMBAI: Zee Telugu always brings the best of Telugu entertainment with a wide array of classic movies for its viewers on small screen. Decked with cinematic splendor and super visual experience, the channel has always taken the onus to showcase new enchanting movies for its audience, since...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/10/times.jpg?itok=rKjFtFg6
Times Network announces its signature event Times Network India Economic Conclave 2019

MUMBAI: After the phenomenal success of its regional chapters, Times Network, announces its annual signature event, Times Network India Economic Conclave 2019 (IEC). Driving this edition’s theme, ‘$5 Trillion – Aspiration to Action’, the two-day conclave on December 16 & 17 in Mumbai brings...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/10/dhar.jpg?itok=EjsT9J7U
Banijay Asia partners with The Natural Studios to explore action-adventure genre

Banijay Asia and The Natural Studios have announced their partnership to bring high-octane content to the Indian and Southeast Asian markets. The collaboration will bring scripted and non-scripted content in adventure and thrill genre on television as well as OTT platforms soon.

Television Production House Fiction
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/10/urvi.jpg?itok=GNdUo2xG
JOP Network’s journey from curating content to running 3 pay channels

It is often assumed that the TV broadcast market in India has reached a saturation point and is dominated by big media networks with deep pockets like Sony, Zee, Times Network, Disney-owned Star India (earlier owned by Rupert Murdoch) or Mukesh Ambani-owned Network18, leaving no room for start-ups...

Television TV Channels Specialised and Niche
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/09/zee.jpg?itok=a10vzqbM
Zee Kannada to premiere Kurukshetra on 15 Dec

MUMBAI:Produced by Munirathna Naidu, Zee Kannada will air the world television premiere of ‘Kurukshetra’ on 15 th December at 6:30 PM only on Zee Kannada and Zee Kannada HD. Mahabharat, the revered classic, forms the bedrock of Hindu mythology and its teachings are deeply engraved in our cultural...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/09/cnbc.jpg?itok=IZcXu-dT
Bajaj Allianz along with CNBC-TV18, announces the Lifegoal Advisor Awards 2019

MUMBAI: CNBC-TV18, in association with Bajaj Allianz joins hands to launch the 1st edition of the Lifegoal Advisor Awards 2019. This award aims to honour Life Insurance advisors, Mutual Fund Distributors and CAs. Keeping in mind the paradigm shift in the buying patterns of the Indian consumers in...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/09/discovery.jpg?itok=tjJs7OcG
Discovery Channel's docuseries on ‘India Startup Stories’ premieres on 14 Dec

MUMBAI: Discovery Channel’s ‘India Startup Stories’ narrates the journey of Indian start-ups who have made giant strides forward and have made a mark on the Indian ecosystem. The 8-episode series, starting December 14, at 7:00 pm on Discovery Channel and Discovery Channel HD, will cover leading...

Television TV Channels English Entertainment

Sign up for our Newsletter

subscribe for latest stories