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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