PE firms' interest lifts Pyramid Theatre stocks
The Chennai-based theatre chain company is reportedly offloading a 15 per cent stake to the private equity investors at around Rs 420 to Rs 445 a share, which is quite higher than the current market price.
By PTI |
MUMBAI: Film distributor and exhibitor Pyramid Saimira Theatre's stock climbed 2.05 per cent to Rs 343.70 on reports that private equity majors Carlyle Group and Citigroup Venture Capital International are in the race to acquire a 15 per cent stake in the company.
The Chennai-based theatre chain company is reportedly offloading a 15 per cent stake to the private equity investors at around Rs 420 to Rs 445 a share, which is quite higher than the current market price.
In addition to the 15 per cent stake in the listed entity, the group was also likely to sell around 15-20 per cent stake in its unlisted production company, Pyramid Saimira Production, the report added.
The report also indicated that the company has won the bid for Hoyts Cinemas, promoted by the Kerry Packer group. The bid was won for A$ 450 million (about Rs 1,547.96 crore).
SCI sails ahead on expansion buzz State-run Shipping Corporation of India's shares gained 1.62 per cent to Rs 210.50 on reports that firm has floated four joint venture companies for its proposed foray into four different ventures.
The company has floated four joint venture (JV) companies for its proposed foray into ship-building, container terminal operation, dredging and offshore services, reports said.
The company is in final talks with South Korean Hyundai Heavy Industries for its ship-building JV, the report said. It has signed up with Mediterranean Shipping Company, along with 2 other public sector firms, Container Corporation of India and Central Warehousing Corporation, for setting up container terminals, the report added.
The Chennai-based theatre chain company is reportedly offloading a 15 per cent stake to the private equity investors at around Rs 420 to Rs 445 a share, which is quite higher than the current market price.
In addition to the 15 per cent stake in the listed entity, the group was also likely to sell around 15-20 per cent stake in its unlisted production company, Pyramid Saimira Production, the report added.
The report also indicated that the company has won the bid for Hoyts Cinemas, promoted by the Kerry Packer group. The bid was won for A$ 450 million (about Rs 1,547.96 crore).
SCI sails ahead on expansion buzz State-run Shipping Corporation of India's shares gained 1.62 per cent to Rs 210.50 on reports that firm has floated four joint venture companies for its proposed foray into four different ventures.
The company has floated four joint venture (JV) companies for its proposed foray into ship-building, container terminal operation, dredging and offshore services, reports said.
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The company is in final talks with South Korean Hyundai Heavy Industries for its ship-building JV, the report said. It has signed up with Mediterranean Shipping Company, along with 2 other public sector firms, Container Corporation of India and Central Warehousing Corporation, for setting up container terminals, the report added.
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