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SRam & MRam Ltd. (UK), a leading diversified business conglomerate headquartered in the United Kingdom and Kalam Media, an Indian media house, today announced the signing of an agreement to form a joint venture as India's largest start-up in the media and entertainment space.
The Joint Venture Company, SRam & MRam Kalam Media Pvt. Ltd., will be headquartered out of India and source high demand media and entertainment content from pan-India and distribute it through a global network across the Americas, Europe, Far East and Australia.
The raised capital infusion from SRam & MRam Ltd. (UK) will be scheduled over three phases of three years each.
"With this Joint Venture, our Group aims to diversify in the Media & Entertainment sector globally. In the first phase, we will be focusing on producing, aggregating and distributing unique content across key geographies including Indonesia. The first will be a film produced in Indonesia through Pt. SKV Movie Entertainment and there will be many more to follow. In addition there will also be a cross cultural interaction between the Indian and the Indonesian film industries for the mutual benefit of both markets. This in my view would be our own way to participate in the 'Make In India' initiative by promoting and popularizing 'Made In India' content in international markets," said Sailesh Hiranandani, chairman of SRam & MRam Ltd. (UK)
"We are happy to partner with Kalam Media in this initiative and would do whatever it takes to make SRam & MRam Kalam Media Pvt. Ltd. a tremendous success worldover. The deep-rooted insights and experience of Kalam Media would enable the JV to produce and aggregate content which appeals in the global markets," Hiranandani added with inputs from Mr. Manoj Todi.
Over the next three months, the joint venture company would establish its base in key Indian cities, including the top eight metros, directly and through associates.
"We are excited to partner with SRam & MRam Ltd. (UK) in this unique initiative, through which we aim to change the dynamics of the global market for Indian content. The Indian entertainment and content software has significant potential in the Global village of today, and we will partner established networks to produce customized content on demand using our deep-rooted network in India," said Ashutosh Singh, Chairman of Kalam Media.
"While Hindi and English content are the mainstays, we will also take the unchartered territories of creating content producers at district level to promote regional content production. In true spirit of "Skilling India", we will impart audio visual content production training to our partner associates across the length and breadth of the country," he added.
Under the ambitious plans, the JV company will also set up content gathering and production training institutes across 4 regional hubs in India so as to train youth to generate low-cost saleable content.
SRam & MRam Kalam Media Pvt. Ltd. plans to train close to 5000 individuals under their Vision 2020. Using a hybrid collaborative, public-participation model, SRam & MRam Kalam Media Pvt. Ltd. aims to create over 3000 employment & self-employment opportunities within 2 years of its launch.
It also plans to make significant inroads in the NRI mindspace through a dedicated portal "For the Indians, by the Indians, of the Indians" that would be powered with multi-platform apps in its second year.
This would enable SRam & MRam Kalam Media Pvt. Ltd. to target the 10 Million (1 crore) plus Non-Resident Indians who have significant appetite for Indian diaspora. The JV company aims to break-even in third year of its launch scheduled in November 2016.
Capitico PRG would provide its services to both partners to ensure a smooth running of operations. Its role would primarily be to hold equity in the Indian entity, be part of the management group and manage financial aspects of the entire deal.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)