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MUMBAI:
Entertainment, media and communications company Percept is
planning to float an initial public offering (IPO) by the
second half of the fiscal.
The
company said it plans to raise Rs 15 billion through private
equity, IPO and debt to fund its expansion plans.
“We
are now set to enter the global stage and we will be partnering
with strategic partners going forward. We have already raised
Rs 1.5 billion through private equity and are in talks with
potential partners and investors to raise the balance amount,”
said Percept president corporate affairs Ajay Upadhyay.
Percept
recently raised Rs 620 million from Indivision India Partners,
the private equity arm of Kishore Biyani's Future Capital.
It had earlier received investments from Passport Capital
and Edelweiss. The total amount of Rs 1.5 billion raised from
these three entities was done at a valuation of Rs 12 billion.
Percept
said it is in advanced stages of negotiations with other strategic
and financial investors and is expecting an immediate closure
of round one of funding.
Percept
is planning investments in the areas of IPR acquisition, home
video distribution, film production studio, development of
digital and mobile content and international distribution.
Percept
plans to expand in all its key areas of businesses including
scaling up content and IPR. The company is also aiming at
inorganic growth within the media and communications domain.
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