Pyramid Saimira to invest Rs3 bn in group firms

Mumbai: Multiplex operator Pyramid Saimira Theatre Ltd said on Wednesday it planned to invest up to Rs3 billion in its group firms.

The board, which met on Tuesday, also considered a proposal by Pyramid Saimira Entertainment Ltd., Singapore, to acquire a majority stake in Pyramid Saimira Production International Ltd., it said in a statement.

This stake acquisition would result in better consolidation of distribution and production and improve valuation and financial leveraging capacity of the Pyramid Saimira group, it added.

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