Shree Ashtavinayak to invest Rs 800 mn, release 4 films in fiscal

MUMBAI: Film production and distribution company Shree Ashtavinayak Cine Vision (SACV) is investing Rs 800 million and will be releasing four films this fiscal.

The films include Shivam Nair’s suspense thriller Maharathi, Sanjay Gadhvi’s Kidnap, Rohit Shetty’s Golmaal Returns and an untitled film.

“We will pump in Rs 800 million this fiscal. Our target is to produce 4-5 films in the year," says SACV chairman and director Dhilin Mehta.

Meanwhile, the company has got an enabling resolution to raise up to $100 million. The proposed utilisation of the proceeds is for expansion of existing activities of films production, distribution and investment in the wholly owned subsidiary company in Dubai.

“We are weighing options for raising the proposed amount and have obtained the shareholders’ nod,” says Mehta.

SACV had raised $33 million via FCCBs (foreign currency convertible bonds) last year.

The company has lined up 13 films which would release over the next two years. The ongoing projects are Blue, Luck, Run Bhola Run, One Way Ticket, Mudh Mudh Ke Na Dekh and Bond.

SACV plans to foray into the regional film market with Tamil and Telugu films.

Directed by Anthony D’Souza, Blue stars Sanjay Dutt, Akshaye Kumar, Lara Dutta, Katrina Kaif and Zayed Khan. The cast of Soham Shah’s Luck, which marks the debut of Kamal Hasan’s daughter Sruti Hassan, include Sanjay Dutt, Imran Khan, Danny Denzongpa, Ravi Kissen and Mithun Chakraborty.

Neeraj Vora‘s two films are Run Bhola Run starring Govinda, Tusshar Kapoor, Tanushree Dutta and Amisha Patel and One Way Ticket starring Anil Kapoor and Akshaye Khanna.

Shree Ashtavinayak has also closed two separate co-production deals with Sri Jaganaath Entertainment and Sanjay Dutt Productions. While it will be co-producing Mudh Mudh Ke Na Dekh with the former, it will co-produce Bond with the latter.

The company has also signed up directors like Rummi Jaffery, Vivek Sharma, Rohit Shetty and Imtiaz Ali for its untitled projects.

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