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| Kavithalaya Productions in talks with PE players |
| T E Narasimhan / Chennai Sep 23, 2009, 00:47 IST |
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Chennai-based Kavithalaya Productions, owned by veteran director K Balachander or KB, is in talks with private equity players for its proposed investment plan of Rs 100 crore. Besides, the company is planning to launch a venture capital fund to support upcoming directors in the film industry.
Speaking to Business Standard, Kandaswamy Bharathan, executive director, Kavithalaya Productions, said, “It is time for us to move forward and become an integrated player.”
Apart from producing contents for movies and television, the company, which had been into film production since 1981, is now planning to produce content for mobile and Internet users. The company expects the new media to account for 50 per cent of the business in the next three years.
Towards this, it has joined hands with a US-based company to access technology and also prepared a business model. Bharathan did not disclose the name of the partner.
The proposed diversification would help Kavithalaya become a Rs 200 crore company, from the current Rs 45 crore, over the next five years, he added.
The Rs 100-crore would be invested mainly to produce content over the next three years. “We are looking for partners to distribute content and a private equity partner for the proposed diversification and investment,” Bharathan did not comment on the percentage, which the company was planning to dilute and the quantum of money to be raised. “It is too early to comment,” he added.
Balachander, considered to be the guru of leading artistes in Tamil and Telegu, has introduced Tamil actors like Rajinikanth, Kamal Hassan and Prakashraj. He is now all set to bring the concept of PE into south Indian production houses, which are known for being conservative.
The company, which focuses on Tamil, Telegu, Kannada and Malayalam, is planning to produce movies in Hindi and English. It would also produce Indian English movies targeting non resident Indians.
This apart, it plans to re-release some of the movies of the 57 it has in its library both in domestic and overseas markets.
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