Showbiz

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Shemaroo to raise Rs 200 crore

Posted by jahanzaibmemon on December 12, 2007

Home entertainment company Shemaroo Entertainment plans to raise around Rs 200 crore for which it will rope in private equity investors. The company has appointed ICICI Securities as its adviser.
Hiren Gada, vice-president, Shemaroo Entertainment, said, �The company will raise part of the amount via equity and the remaining through debt.�
However, the percentage stake Shemaroo will offload is not clear yet. �We are in active discussions with domestic and international investors and based on the valuation we will decide the per cent of stake to be sold,� said Gada.
The proceeds will be used as growth capital. Shemaroo is currently in the process of integrating its various business verticals.
The company has presence in the home entertainment space, movie distribution and has dabbled in film production with Hindi movies Omkara and recently released Manorama Six Feet Under.
It has also produced animation flicks Ghatothkach – Master of Magic and Bal Ganesh, apart from a few Marathi movies.
Shemaroo�s expansion plans include scaling up of its production and distribution business. On the production front, the company aims to release three-four bollywood films each year, in addition to animation flicks.
As of now, it has two films which are under production with budgets in the range of Rs 15-20 crore each.
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