Pyramid Saimira Theatre jumped 5.69% to Rs 185.75 at 10:40 IST on BSE on reports US-based Regal Entertainment Group, the world's largest theatre chain and a few private equity firms are planning to pick up a combined 14% stake in the company.
The stock hit a high of Rs 195 and low of Rs 180 so far during the day. The stock had a 52-week high of Rs 551 on 31 December 2007 and 52-week low of Rs 131 on 2 July 2008.
The mid-cap cinema chain operator has an equity capital of Rs 28.28 crore. Face value per share is Rs 10.
Regal, one of the interested suitors, has close to 6,500 screens across the US. The deal is expected to be in the range of Rs 250 to Rs 300 crore. PSTL aims to have 1,000 theatres in six countries by the end of 2008.
Pyramid Saimira Theatre (PSTL) reported a net loss of Rs 3.11 crore in Q4 March 2008 as against net profit of Rs 5.83 crore in Q4 March 2007. However net sales surged 263.4% to Rs 245.56 crore in Q4 March 2008 over Q4 March 2007.
Pyramid Saimira Theatre is focused on distribution and exhibition of films. Its objective is to have presence in all categories of theatres including malls, multiplexes, cineplexes and standalones across the country in tier I, II and III locations.
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