Pyramid Saimira IPO subscribed 16 times

New Delhi, Dec 19 (UNI) The Initial Public Offering of Pyramid Saimira Theatre Ltd has been over subscribed 16.26 times.

The company said the Qualified Institutional Buyer (QIB) portion has been subscribed 15.31 times, HNI segment 29.79 times and retail portion 14.47 times.

It entered the capital market on December 11 2006 with a public issue aggregating Rs 84.44 crore. The price band for this 100 per cent book building issue has been fixed at Rs 88 to Rs 100 per equity share of Rs 10 each.

The company will utilise the amount raised for expansion of the current theatre Chain into North India and consolidation of theatres in South India. It plans to reach 350 screens by March 2007 with 9.60 million square feet.

The shares allotted under the issue are proposed to be listed on BSE and NSE.

Keynote Corporate Services Ltd and Canara Bank (Merchant Banking division) acted as the Book Running Lead Managers (BRLM) for the issue.

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