Shemaroo looking to raise Rs100 cr through pvt equity route

Shemaroo looking to raise Rs100 cr through pvt equity route
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First Published: Sun, Aug 24 2008. 01 19 PM IST
Updated: Sun, Aug 24 2008. 01 19 PM IST
PTI
Mumbai: “Entertainment company Shemaroo Entertainment is in talks with private equity players to raise Rs100 crore for fuelling its expansion programme,” a top company official said.
“We are in negotiations with both, domestic and foreign private equity players to raise Rs100 crore,” Shemaroo Entertainment Director Hiren Gada told PTI here.
“Shemaroo hopes to seal transactions within the next six months,” he commented.
The company is mulling over diluting a portion of its equity to raise funds from private equity players.
“We are looking at equity dilution as an option to raise funds,” said Gada.
However, he did not disclose the identities of the players Shemaroo was in talks with.
“Shemaroo, an integrated film production, post-production, distribution and animation player, would utilise the funds raised to enhance and strengthen its existing verticals. A part of the funds raised would be used for production of eight films out of which six would be Hindi while the other two would be animated films.” he added.
Shemaroo also plans to expand its films acquisition and distribution rights business.
“This will be a strong focus area for us,” Gada said, adding that this would be for various media such as television, internet, mobile, home video and other emerging technologies.Investments in both businesses would be done over the next 12 months,” Gada said.
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First Published: Sun, Aug 24 2008. 01 19 PM IST