Ram Gopal Varma wants Rs 100 cr from you!

Ram Gopal Varma wants Rs 100 cr from you!
Saturday, December 10, 2005 11:38 IST
By Santa Banta News Network
RGV Film Factory Limited (RGVFFL), the production company floated by prolific filmmaker Ram Gopal Varma, will raise equity worth Rs 100 crore through an Initial Public Offering (IPO).

UTI Securities Limited has been appointed as the lead manager to the IPO, which is likely to come out in the next three months.

On his decision to make his company public, Varma here said, ''Not only is India the world's largest producer of feature films, but in terms of the audience size, it is also the largest market.

Additionally, I also believe that Indian films can become a much bigger commercial force in the global arena. Being a publicly listed company will help RGVFFL towards this end by making fund raising a relatively simpler exercise.''

Elaborating on the IPO, UTI Securities Ltd President K Srinivas said, ''While film production companies in the US are publicly traded multi-billion conglomerates, in India, barring a few production houses, the industry continues to be fragmented and disorganised. There are very few companies in this space which are corporatised and conceive and execute projects on time and in budget. Among these RGVFFL is by far the most prolific.''

He said, as the entertainment industry boom continues, he is of the view that the RGVFFL IPO will offer investors a chance to be a part of a company that has excellent growth prospects and leverages its promoter's versatile talent, creativity, technical expertise and enormous brand equity to create stakeholder value.

Ram Gopal Varma has so far produced 53 films in Hindi, Telugu and Tamil. He has himself directed 24 films in the three languages.

On his various joint ventures, Varma said, ''Henceforth, RGVFFL will be the only company I have interests in. Whatever I do will be through and for RGVFFL. Personally I see a great future for the company and I will constantly strive to entertain and reward my shareholders and the entertainment industry.''

On his deal with Adlabs Films Ltd, he said it is for specific projects which have been identified and will be executed by RGVFFL.

The money raised from the public issue will also be to create and execute further new projects.

Meanwhile, Mr Srinivas said the details of the issue, including the structuring of the instrument and the price band, will be announced shortly after a red herring prospectus is filed with the Securities and Exchange Board of India (SEBI).

Varma, a critically acclaimed filmmaker, has made popular Hindi movies like 'Rangeela', 'Satya', 'Company', 'Bhoot' and 'Sarkar'.

His forthcoming ventures include 'Ram Gopal Varma ke Sholay', a remake of Ramesh Sippy's mega blockbuster 'Sholay', in which superstar Amitabh Bachchan is expected to play the role of 'Gabbar Singh'.
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