Future's PE arm picks up 10% in Percept for Rs 65 cr

Indivision, the private equity arm of Future Capital, is picking up a 10 per cent stake in Percept Ltd, the flagship company of the Percept group, for nearly Rs 65 crore.

The deal values Percept, an entertainment, media and communications player, at Rs 650 crore.

Percept has a presence in advertising, public relations, media communications, film and TV content production and distribution, talent management, sports and events marketing in India and West Asia.

According to sources, the investment will provide significant synergies to the Future Group, which has a large advertisement budget and aligns well with group's businesses such as Future Media, which has interests in media and advertising.

Percept has a large pipeline of films under production and the fund infusion will help strengthen its market position.

Group company Future Ventures is said to have created three joint ventures with Percept in the field of media buying, Bollywood-themed retail and entertainment & investor relations management businesses. Future Capital officials declined to comment on the deal.

The Rs 1,700 crore Indivision has invested in many companies such as kidswear manufacturer and marketer Liliput, beauty and wellness chain VLCC, construction firm BE Bilimoria and wine producer Sula Wines among others.

The Future Capital scrip ended higher by 1.43 per cent to close at Rs 563.60 in Mumbai market on Wednesday.