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/2019/10/22/partho.jpg?itok=Fpo7yH4T
Partho Dasgupta quits BARC India; Sunil Lulla named CEO

MUMBAI: Partho Dasgupta, the first chief executive officer of BARC India, a joint industry company between broadcasters, advertisers and agencies, today announced his plan to relinquish his position and move on.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/22/awrads.jpg?itok=ZBOxuQ8D
News18 Tamil Nadu hosts third edition of Magudam Awards

MUMBAI: News18 Tamil Nadu organised the 3rd edition of flagship initiative the 'Magudam Awards 2019’. Magudam meaning “crown” in Tamil, is an awards platform for celebrating glory of achievement and excellence. Thereby the awards is a unique platform to acknowledge and celebrate excellence in the...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/21/tamil18.jpg?itok=JimiNhKM
News18 Tamil Nadu announces the third edition of Magudam Awards

News18 Tamil Nadu is once again proud to present the 3rd edition of our flagship initiative the 'Magudam Awards 2019’. Magudam meaning “crown” in Tamil is an Awards platform for celebrating glory of achievement and excellence.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/21/nbf.jpg?itok=0pZW1zG-
News Broadcasters Federation meets today in Mumbai

Top executives of India’s news Industry, part of News Broadcasters Federation - the largest ever federation of news channels will meet today in Mumbai in what will be the biggest meeting of regional and national broadcasters at one platform.  In their first meeting since the announcement, the top...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/21/republic.jpg?itok=I8UWl2vh
Republic Media Network, EbixCash partner for world’s first brand-integrated news studio

MUMBAI: Republic Media Network, and EbixCash, India’s largest financial exchange disruptor, announced the world’s first brand-integrated news studio – the EbixCash Studio. With this unique tie-up, EbixCash has partnered with the largest studio in the country with 6,000 square feet of space - a...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/21/kartik.jpg?itok=KssrYEEE
ZEEL's Kartik Mahadev on Zee Cafe strategy, BBC First block, post-NTO campaigns

English entertainment channels was feared to face the most challenging time in the NTO phase. ZEEL English Cluster Business Head Kartik Mahadev informs that initially there were some flux at ground level between consumers and distributors but increasing awareness of the MRP regime through campaigns...

Television TV Channels English Entertainment
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/19/BARC_800.jpg?itok=IhAg9H0v
BARC week 41: Amazon, Flipkart’s festive season sales make them top two brands

MUMBAI: The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands for the period between 5 October 2019 and 11 October 2019. The data reflects top 10 advertiser and brands across genre on Indian television, including OOH screen, (U+R): 2+, Individuals...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/19/Sony%20Max.jpg?itok=O43KvdRQ
Sony MAX celebrates 20th anniversary

MUMBAI: Sony MAX, India’s leading premium Hindi movie channel from Sony Pictures Networks India (SPN) is celebrating 20 years of its glorious broadcasting journey in India this October.  Having pioneered the trend to showcase the best of Indian cinema, Sony MAX, over the years, has continued to...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/19/News_Channels.jpg?itok=QIBuy6yH
Most-watched regional news channels

BENGALURU: Regional news is has more per capita consumption in respective languages than Hindi or English news . Further, the consumption of all regional news channels is larger than Hindi news.

Television TV Channels Viewership

Sign up for our Newsletter

subscribe for latest stories