Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Poll: Experts opinion mixed on Pyramid Saimira IPO
Chennai-based Pyramid Saimira, the theatre chain, is open for subscription with an initial public offering of 84.44 lakh shares. Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts opinion were mixed.
Chennai-based Pyramid Saimira, the theatre chain, is open for subscription with an initial public offering, IPO of 84.44 lakh shares of Rs 10 each for cash at a premium to be decided through book building process.
The issue closes on December 18 and the price band has been fixed at Rs 88-100 per equity share of Rs 10 each.
Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts opinion were mixed.
Experts/Company
Poll Result
Experts view
R S Iyer
(KR Choksey)
Apply
Pyramid Saimira is good issue. Investors should apply with a short term view.
SP Tulsian
(Investment Advisor)
Don't Apply
Pyramid Saimira is a good issue but the price band is bit expensive. Ignore the issue.
The company currently runs 148 screens and the IPO is expected to fund the expansion plan in the north, apart from consolidating its theatres in the south.
The plan is to touch 350 screens by March 2007 with 9.60 million square feet under operational management as the company follows a long-term lease model, as not the acquisition route.
The equity shares will be listed on Bombay Stock Exchange and National Stock Exchange.
The book running lead manage to the issue is Keynote Corporate Services and Cameo Corporate Services is the registrar.
