Animation
DQ Entertainment raises up to $50 million for content development
MUMBAI: DQ Entertainment (International) has announced that its holding company and promoter DQ Entertainment (Mauritius) has executed the documents to raise funds up to US$50 million. The funds will be raised by way of semi or secured convertible bonds from OL Master, a private credit fund managed by OCP Asia (Hong Kong).
In an announcement made to the BSE, the company has said that the funds can be drawn down in two tranches, the first of which is for US$35 million and will be drawn down immediately and the second tranche of US$15 million can be drawn down at the option of the investor within 12 months thereof.
The net proceeds from the issue of the bonds will be used to fund the development of more than 20 owned-IP and co-production project currently in the pipeline for production over the next two years, for the repayment of certain debts amounting to approximately US$7.2 1 million (Rs 445.1 million) and for general working capital purpose.
DQ Entertainment chairman and CEO Tapaas Chakravarti said, “We are delighted to partner with OCP Asia and are confident that this association will help us to realise our mission for DQE. The validation of our business model by the high acumen OCP team further strengthens our commitment to produce and distribute world class content across territories and grow our audiences with high quality IP creation.”
OCP Asia (Hong Koug) co-founding partner Teall Edds added, “We have been impressed with DQE’s exciting pipeline and its capabilities in producing world class content, its ability to work with broadcasters from around the world in bringing ideas to the screen and its 360-degree monetisation approach to generating returns on IP. We look forward to our close partnership with DQE.”
It can be noted that the board of directors of DQE had been exploring various options to secure the necessary funding for the group’s pipeline projects, the bulk of which are children/family oriented animation series for TV and digital distribution. “This has included discussions with a number of investors and after considerable deliberation and effort, DQE has concluded that the issue of the bonds is the best option available to the group to secure the finance it needs and is in the best interests of shareholders as a whole. The board believes there is an opportunity to grow DQE’s business through the development and exploitation of its own IP and the issue of the bonds provides the finance to capitalise on this,” the statement to the BSE reads.
DQE has a production order book worth approximately US$ 63 million (Rs 3,820 million) in terms of revenue to the group. Some of the projects currently in production include ‘Robin Hood’, ‘Peter Pan season 2’, ‘Lassie’, ‘Miles from Tomorrow Land’, ‘Popples’ and ‘Seven Dwarfs & Me.’ Production of many new IPs such as ‘5 & IT’, ‘Yonagunis and Leo Galilei’ will commence soon. The company had recently also signed on a co-production project called ‘Pio the Chick’ with Rai, Italy and is engaged in discussions for more such projects.
DQE’s distribution and licensing division has concluded 24 deals in the current financial year. In addition, a number of broadcast deals for the group’s IP, including Jungle Book, Peter Pan. Iron Man and Robin Hood, have been concluded with global broadcasters such as Rai Cinema (Italy), DEA (Italy), Viacom I8 (India) and Univision (USA & Puerto Rico). DQE expects to be able to grow its licening and merchandising revenue through its 360-degree monetisation strategy for all its existing and new IPs going forward.
Major Terms of the Bonds
The bonds carry a cash coupon rate of 6.5 per cent per annum payable semi-annually from the closing date up to the maturity date. The bonds will have a maturity period of five years from the closing date (the “Maturity Date”).
Outstanding bonds will be redeemed on the maturity date at a redemption price which would yield an internal rate of return (“IRR”) equal to 15 per cent per annum (the ‘Redemption Price’). In addition, the bond holders can redeem the bond at the Redemption Price after a period of 36 months after the closing date.
The bonds will be issued to the Investor and are freely transferrable, in whole or in part, to any person (with the holders of the bonds from time to time being collectively the “Bond holders”).
“The bond can be converted into ordinary shares of DQE Mauritius. The conversion of the full US $50 million of bonds would currently equate to 56.5 per cent of DQE Mauritius on a fully diluted basis,” said the statement.
MUMBAI: History is getting a fresh rewrite this time with code, creativity and a longer arc in mind. Lens Vault Studios has announced its first original production, Bal Tanhaji, marking the official entry of the newly launched, tech-driven studio into India’s evolving entertainment landscape.
Arriving six years after the box-office success of Tanhaji: The Unsung Warrior, the new project expands the universe rather than revisiting familiar ground. Bal Tanhaji explores uncharted narrative territory, signalling a clear shift from one-off cinematic spectacles to long-format, world-building storytelling designed for digital-first audiences.
At the heart of this ambition is Prismix Studios, the in-house generative AI and technology arm powering the creative engine behind the show. The studio’s approach blends storytelling with next-generation tools, aiming to reimagine how Indian IPs are created, scaled and sustained beyond theatrical releases.
For Lens Vault Studios chairman Ajay Devgn the new venture represents a deliberate step beyond traditional cinema. The focus is firmly on building long-form intellectual properties across fiction and non-fiction, tailored to changing viewing habits and platform-led consumption. He said the studio intends to explore formats that remain largely untapped, while drawing on the team’s experience with large-scale cinematic storytelling.
Lens Vault Studios founder and CEO Danish Devgn echoed that sentiment, describing Bal Tanhaji as the studio’s first generative-AI-led IP and the starting point of a broader vision. The aim, he noted, is to carry forward the legacy of the Tanhaji universe while connecting with younger audiences through a blend of powerful narratives and emerging technologies.
With Bal Tanhaji, Lens Vault Studios is planting its flag early not just launching a show, but signalling a larger play for cinematic universes that live, grow and evolve across platforms. If this debut is any indication, the future of Indian storytelling may be as much about imagination as it is about innovation.
