The Sebi denied reports that it had issued an advisory to Pyramid Saimira to make an open offer at Rs.250 per share, media said. "We have not issued any such letter to Pyramid Saimira Theatre. Since there seems to be a letter in circulation, we are looking into it. SEBI shall issue a detailed Press Release later today," said the SEBI release.
The reports came even as the company informed the BSE on Tuesday that P S Saminathan, Chairman & Managing Director of the Company has since received an advisory from SEBI to file prospectus for public announcement for open offer to acquire 20% of shareholding within 14 days at a price of Rs 250/- per share.
However, in a regulatory filing to the BSE on Monday, the company had said," The company has informed that P.S. Saminathan, promoter, who is also chairman and managing director, has also confirmed that he has not received any communication from SEBI in this regard,"
As per current regulations, promoters are allowed to acquire up to 5% equity every year. However, one of the promoters of Pyramid Saimira, P.S. Saminathan, acquired more than 5% equity from the market in 2008.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.