Movies

K Sera Sera plans public offer, to raise approx Rs 500-600 million

MUMBAI: K Sera Sera is planning a public offer to raise Rs 500-600 million in the first quarter of 2005-06. This will be to fund the company's movie and television businesses.

 

A further $2-3 million will be raised through issue of preference shares, according to a source. The company's total fund requirement is Rs 700-750 million.

 

 

K Sera Sera plans to come out with the public offer by June. "The company is looking at a fresh public offering. The size of the issue will be in the range of Rs 500-600 million," the source says.

When contacted, K Sera Sera managing director Parag Sanghvi declined to comment. "The board is meeting on Friday to discuss the fund raising programme of the company. We can't comment on anything till then," he said.

The board is expected to make an announcement on the public offer, the source said. The issue is likely to be through the book building process. The price band is yet to be decided, he added.

A major chunk of the issue proceeds will be towards movies. Part of the proceeds will also be used for expansion in the television production arena, the source said.

K Sera Sera is primarily into movie production, but has also floated a subsidiary company for its television content venture. Twenty Twenty Television (TTT) is producing Kashish, a daily prime time show which will air from 18 April. The company also expects to have six shows on various channels including a reality programme for Sony this year.

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