Film Production
Shringar Cinemas plans IPO, files with SEBI
MUMBAI: It is the turn of the film exhibition and distribution companies to go public. Shringar Cinemas Ltd, which operates a chain of multiplexes and distributes movies, is floating an initial public offering (IPO) to raise about Rs 500 million.
The company is entering the capital market with a public issue of 81,50,000 equity shares of face value of Rs10 each at a price to be determined through 100 per cent book building route to finance its expansion plans.
Out of the present issue, 50 per cent (39,50,000) shares are reserved for allocation to Qualified Institutional Buyers (QIBs) on discretionary basis, 25 per cent (19,75,000) shares are reserved for allocation to Non Institutional Bidders and 25 per cent (19,75,000) shares are reserved for retail individual bidders both on proportionate basis. The balance 2,50,000 equity shares are reserved for allotment to employees of the company.
The promoters’ holding will come down from around 65 per cent to 48 per cent. G W Capital, a private equity investment firm which had picked up 35 per cent stake, will bring down its stake to 26 per cent after the IPO.
The company has filed draft red herring prospectus with Securities and Exchange Board of India (SEBI) on 14 January. Enam Financial Consultants Private Limited and JM Morgan Stanley Private Limited have been appointed as book running lead managers to the issue, informs an official release.
Shringar Cinemas’s plans for 2005 include the opening of two four-screen multiplexes in Mumbai and two three-screen multiplexes in Pune and Hyderabad.
Film Production
Priyanka Kaur Dhillon joins SVF Entertainment as lead for music distribution
A seasoned content dealmaker with 16 years in digital and satellite media joins the Bengali entertainment powerhouse as it pushes into the pan-India music market
Mumbai: Priyanka Kaur Dhillon has made her move. The content acquisitions and commercials veteran, most recently commercial manager at Sony Pictures Networks India, has joined SVF Entertainment as lead for music distribution, stepping into one of the more interesting briefs in regional entertainment right now.
SVF is no ordinary regional label. Over 30 years it has built a formidable legacy in Bengali cinema and music, driven by culturally resonant storytelling and a catalogue that consistently punches above its weight. Its recent success with Chiraiya underlines the point. But the Kolkata-based powerhouse now has its sights firmly set beyond Bengal, most visibly through Legacy, a rap reality series produced in collaboration with hip-hop label Kalamkaar that signals a deliberate push into the pan-India music ecosystem.
Dhillon brings precisely the kind of muscle SVF needs for that expansion. At Sony Pictures Networks India, she led film acquisition and commercials and handled music licensing across the entire satellite network. Before that, she spent nearly 15 years at Hungama, rising to assistant general manager and leading strategic content licensing for the platform’s digital entertainment business, with a particular focus on international markets. Her label relationships span the full roster: Sony Music, Universal Music, Warner Music, Believe International, Tunecore, The Orchard and a clutch of smaller aggregators. She has negotiated and closed deals with Hollywood studios, Bollywood production houses and regional content players alike, building pricing models and deal structures off data analysis rather than instinct.
Announcing the appointment, Dhillon said she was “thrilled to begin this journey with an iconic Bengali music label and content powerhouse,” adding that SVF’s “constant drive to push boundaries” was what drew her to the role.
SVF has spent three decades proving that regional does not mean limited. With a sharp commercial operator now steering its music distribution, its bid to go national just got a good deal more serious.
