Two digital media and technology companies listed today. One was Pyramid Saimira, a digital cinema chain. The company’s shares closed 60 per cent higher than its issue price of Rs 100. According to Reuters, Pyramid expects revenues of Rs 180-190 crore in 2006-07. The company, which has a strong presence in southern India, plans to expand in the north.
The other listing was Tanla Solutions, a provider of mobile technology solutions and an aggregator of content. The Hyderabad and UK-based Tanla was founded in 1999, but has come a long way since then. It has a software development centre in Hyderabad and has a wholly-owned subsidiary Tanla Mobile in the UK. The latter provides content management solutions, among others, to the UK telcos.
The company had revenues of Rs 66 crore and net profits of Rs 30 crore in the year ended March 31, 2006.
Besides Geodesic, Tanla could be the only other company in mobile value added services space that has gone public. Tanla’s shares closed at Rs 379.80, while the IPO issue price was Rs 265.
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