Steel baron Lakshmi Mittal and Bollywood's most powerful financier
Bharatbhai Shah are joining forces to start a new film finance company
which will invest more than Rs 100 crore each year to back new screen
blockbusters.
The new company Mega Bollywood Pvt Ltd will back around 10 blockbusters
and several smaller productions each year and it aims to become the
biggest financing machine for the Mumbai film industry.
Kishore Lulla of Eros International, which is starting a new
international film channel B4U in August, will be the third partner of
Mega Bollywood.
Mega Bollywood is holding talks with leading Mumbai directors who are
scouting for cash, and it will announce its maiden ventures in coming
weeks.
"It will be the largest financing and production company in Bollywood,"
says Ravi Gupta, CEO, B4U, who is closely involved with the new project.
The new company will get a flying start by transferring several
blockbusters which are already under production and being being backed
by Bharatbhai Shah. Mega Bollywood will tie-up with top music directors
and producers and attempt to bring together the best talents in the
Hindi film industry. "We will have strategic alliances so that we have
key creative inputs," says Gupta.
The company hopes to capitalise on the burgeoning international market
for Hindi films. Eros International is already the largest international
distributor of Hindi films and its new channel B4U will also need a
constant supply of new films. "Overseas is becoming more important. This
collaboration will achieve growth in this area," says Gupta.
Shah's existing company VIP Enterprises will handle theatrical
distribution inside India. Shah, who has been a leading figure in the
Hindi film industry for the last 10 years, is expected to play a leading
role in Mega Bollywood.
