Prime Focus plans for Rs 117cr Expansion
Prime Focus, one of India's leading integrated end-to-end post production and visual effects services house, has chalked out an expansion plan involving an investment of Rs 117.25 crore (Rs 1.17 billion), according to a release.
The plan includes setting up of high-end digital studios at Los Angeles, London and Dubai and expanding its domestic operations. To part finance this expansion, the company soon proposes to enter the capital market with a public issue of Rs 100 crore (Rs 1 billion) through a 100% book building process. Prime Focus IPO is likely to hit the market at the end of February or beginning March.
Some of the leading corporates and personalities already holding equity stake in the company include Reliance Capital, Adlabs Films, Rakesh Jhunjhunwalla and Manmohan Shetty along with Malhotra family.
“We are looking at expanding globally in terms of our core service business of post-production and visual effects. We are looking at strategic markets like Los Angeles, London and Dubai, We are actually looking to acquire certain companies internationally. That will instantly, give us a headstart." says the company’s MD, Namit Malhotra.
Be it animation, VFX or post production, Indian studios are making a mark in the international market.
In the Post Production and finishing services area, Prasad and Rajtaru have already opened facilities internationally and now with Prime Focus too having major International plans, it will be interesting to watch how the Indian biggies play to their strengths internationally.
|Prime Focus Ltd.
Anand Kunj, North Avenue
Linking Road, Santacruz (West)
Mumbai - 400 054