Movies

Deutsche Bank acquires 10.55% stake in Indian Film Company

MUMBAI: Deutsche Bank AG has taken a 10.55 per cent stake in The Indian Film Company (IFC), a specialist film investment firm listed on the Alternative Investment Market (AIM) of the London Stock Exchange.

Deutsche Bank has purchased 5.80 million equity shares. Earlier on 17 September IFC had said in a press release that it had received an interest from Deutsche Bank for a 10.55 per cent stake.


Raghav Bahl, a director and substantial shareholder of both Network18 Fincap Ltd and BK Media Mauritius, continues to hold 21.64 per cent in IFC.


Deutsche Bank would have paid around $4.64 million for the stake at the current market price. The shares of IFC are currently trading at 43.50 pence as against the listing price of 100 pence.


Last year, HSBC Investments (Singapore) Ltd. increased its stake to 9.10 per cent in The Indian Film Company.


The Indian Film Company raised ?55 million (Rs 4.4 billion) through an initial public offering (IPO) in Hune 2007. The company seeks to invest in films where it retains full ownership of all Intellectual Property Rights (IPR), although ownership may be shared with co-producers, directors and actors if necessary.


IFC has released successful Bollywood films like Jab We Met, Welcome and Singh is Kinng.

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