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DQ Entertainment to raise $60 million; list on London Stock Exchange

Indiantelevision.com Team

(20 November 2007 10:30 pm)

MUMBAI: Hyderabad-based DQ Entertainment is set to tap the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) to raise $60 million. The IPO (initial public offering) money will be used for funding films, acquisitions, joint ventures and new production facilities.

The animation and gaming company recently announced its plans to produce a live action feature film every year, starting from 2008 along with an animated TV series every 18 months.

DQ Entertainment MD and CEO Tapaas Chakravarti was not available for comment.

While DQ has two concepts for a full length feature film and animation on Indian content under development, it is also looking to work on a live action TV series for the UK market.

DQ Entertainment is also planning to consolidate its position in the gaming segment, covering the gamut of 3-dimension console games, mobile games and online, web-based interactive games.

It services clients like Walt Disney TV, Marvel, BBC and Nickelodeon.

Earlier UTV and TV18 promoter Raghav Bahl tapped the AIM of the LSE to raise money for their movie ventures.

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