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MUMBAI: TV
18 Group promoter Raghav Bahl is sponsoring a $110 million
film asset owning company, The Indian Film Company, that plans
to list on the Alternative Investment Market (AIM) of the
London Stock Exchange.
Network
18 (the Group holding company of TV18, GBN, Web18, HomeShop
18 and Studio 18) intends to participate in The Indian Film
Company by investing $10 million through ordinary shares allotted
at par.
Studio 18, the motion picture division of Network 18, shall
enjoy a special relationship with The Indian Film Company. Studio
18 shall offer all its productions to the AIM listed Company
on a "first rights" basis. Studio 18 shall also offer
a full menu of services, including production supervision, domestic
and international theatrical distribution, home video distribution,
and film acquisition and syndication services.
"We
are excited about sponsoring The Indian Film Company on AIM.
It will enable high quality international investors to reap
the benefits of the structural changes and growth opportunities
being thrown up by the Indian film industry," says Bahl.
Adds
Sandeep Bhargava, the current CEO of Studio l8, who shall
take up his fresh assignment to lead The Indian Film Company:
"We are at the threshold of a structural revolution in
India's film industry. Given the quantum and pedigree of the
capital resources being raised by The Indian Film Company,
I am convinced that we shall be able to carve out a market
leadership position in no time at all. Our ambition is to
be at the forefront of this revolution, and create enormous
wealth for a new category of investors who would be participating
in India's exciting film industry for the very first time."
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