K Sera Sera files prospectus with SEBI, plans to raise Rs 400-450 million

MUMBAI: K Sera Sera today filed the prospectus with the Securities and Exchange Board of India (SEBI) for entering the capital market with a fresh public offer through a 100 per cent book building process.

The company plans to raise around Rs 400-450 million through the issue, K Sera Sera chief executive officer Kacon Sethi tells The size of the issue will, however, depend on the price band it attracts.

The holding of the promoters will come down from around 29 per cent to 22 per cent after the issue. Enam Financial Consultants and UTI Securities Ltd will lead manage the issue.

The bulk of the proceeds will be used towards movie business. Allocation of Rs 250 million will be towards film production while Rs 40-50 million will be for distribution of movies. The balance will be utilised for meeting corporate and other expenses. The television content production subsidiary company, Twenty Twenty Television, has already raised debt.

K Sera Sera plans to produce five movies this financial year, says Sethi. Sarkar, which was released recently, has been a box office hit. The company is producing Darna Jaroori Hain on a budget of Rs 80-90 million. The other movies will be produced at a budget of around Rs 50 million each, she adds.

K Sera Sera, which already has a show running on Zee TV, plans to add three to four television serials this financial year. "We are serialising the movie Darna Mana Hai and it will air in November on Star One four days a week," says Sethi.

Production houses that have gone public include Balaji Telefilms and Creative Eye. UTV, which has a diversified business model, was the most recent to come out with an initial public offering.

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