Network 18 to invest $10 million in "The India Film Company"

Network 18 Fincap Ltd has announced that Network 18 (the Group Holding Company of TV18, GBN, Web18, HomeShop 18 and Studio 18) on April 30, 2007 has announced its intention to participate in The Indian Film Company, a $ 110 mn Company that is proposed to be listed on the Alternative Investment Market (AIM) of the London Stock Exchange. The Indian Film Company is being sponsored by Mr. Raghav Bahl, Founder and Promoter of the "TV 18 Group". Network l8 will participate in the venture by investing $ 10 mn through ordinary shares allotted at par.

Studio18, the full spectrum motion picture division of Network 18, shall enjoy a special relationship with The Indian Film Company. Studio18 shall offer all its productions to the AIM listed Company on a "first rights" basis. Studio18 shall also offer a full menu of services, including production supervision, domestic & international theatrical distribution, home video distribution, and film acquisition & syndication services.

Commenting on this development, Mr. Raghav Bahl, the Founder and Promoter of the TV18 Group said, "We are excited about sponsoring The Indian Film Company on AIM. It will enable high quality international investors to reap the benefits of the structural changes and growth opportunities being thrown up by the Indian film industry.

Mr. Sandeep Bhargava, the current CEO of Studiol8, who shall take up his fresh assignment to lead The Indian Film Company said, "We are at the threshold of a structural revolution in India's film industry. Given the quantum and pedigree of the capital resources being raised by The Indian Film Company, I am convinced that we shall be able to carve out a market leadership position in no time at all. Our ambition is to be at the forefront of this revolution, and create enormous wealth for a new category of investors who would be participating in India's exciting film industry for the very first time".

Source : Equity Bulls

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