Padmalaya Telefilms (PTL), a Hyderabad-based entertainment and media software company, promoted by G S R Krishna Murthy, chairman, started his career as a film actor in the Telugu film industry and has acted in more than 315 Telugu films. He has also directed 13 films. G Adisesha Giri Rao, managing director, has over 25 years of experience in film production in Hindi (Himmatwala, Justice Chowdhary, etc.) and Telugu. PTL hit the primary market in year 2000 with its maiden public issue of 25,00,000 equity shares of Rs 10 each for cash at a price of Rs 100 per share, including a premium of Rs 90 per share, aggregating Rs 25 cr. The promoters have interests in other ventures like Padmalaya Studios, Padmalaya Vision, Padmalaya Enterprises and Priyadarshani. Padmalaya Studios, a privately held company, is one of the largest studios in Hyderabad for film production with a profit after tax of Rs 15.97 lakh for the 1999 fiscal. PTL sold the distribution rights of films to Padmalaya Studios for Rs 1.2 cr in FY 1999-2000 out of its total sale of distribution rights of Rs 7.65 cr. Padmalaya Vision was created for production and audio/video marketing of films and serials. But it has now diversified to information technology activities. This company is also registered as an advertising agency for marketing airtime with Doordarshan (DD), All India Radio, press and private channels. PTL is engaged in the making of telefilms and television software. It has two mega serials to its credit -- Jai Veer Hanuman and Buddha. They were telecast in 1996 on Sony. The company had allotted a total of 20 lakh equity shares at par to Reliance Capital (15 lakh shares), Kothari Pioneer Mutual Fund (2.5 lakh shares) and Reliance Vision Fund (2.5 shares) in Oct '95 and Jan.'96. PTL has an integrated studio in Hyderabad. It has some ideas which are ready at a pre-production stage like British Rule in India (a drama to be produced in joint venture with a foreign partner), Dashavthara (a 200 episode mythological), Karna (another 200 episode mythological) and Swapnasundari (a 100 episode folklore serial). During Dec. 2001, the board of directors of PTL had decided to sell the animation division of the company to its 100% US subsidiary, Padmalaya Telefilms Inc.