Pyramid Saimira Theatre Ltd said its chairman, P.S. Saminathan, bought on Friday 1.37 million shares, or about 4.8 percent, in the company from Nirmal Kotecha, part of the founders' group.
Earlier in the day, a block deal of about 4.9 percent took place at 250 rupees per share on the BSE.
Shares in the cinema chain operator closed down 19.58 percent at 216.40 rupees
via Reuters