Vivek Ranjan - Televisionpoint.com The Anil Ambani controlled Adlabs Films will take on India's largest multiplex cinema operator by number of screens, Priya Village Roadshow or PVR in the northern market with an ambitious plan to launch 100 screens.
"We are aggressively upping the tempo in film production and plan to support creative film-makers with our marketing and distribution support," said Praveen Nischol, CEO, Entertainment One, Adlabs production arm.
Note that PVR has recently filed its draft red herring prospectus with the Securities and Exchange Board of India, to enter the capital market with its initial public offering, or IPO of 77,00,000 equity shares of Rs 10 each for cash at a price to be determined through the book building process.
The company, whose first multiplex, PVR Anupam, gave Delhiites a taste of refined cinema viewing, also plans to expand its cinema footprint and set up new cinemas in Mumbai, Hyderabad, Indore, Gurgaon, Lucknow, Chennai, Ludhiana, Aurangabad and Latur. PVR has an operational multiplex in Bangalore which was opened in 2004.
The book running lead managers to the issue are ICICI Securities and Kotak Mahindra Capital Company. The issue will constitute 33.66 per cent of the fully diluted post-issue capital of the company of Rs 22.87 crore. Engineering construction company Punj Lloyd which provides integrated design, engi neering, procurement, construction and project management services for the energy industry and infrastructure sector projects has filed its prospectus with Sebi for its maiden IPO. Punj has operations spread across in the Middle East, Caspian region, Asia Pacific, Africa and South Asia. Standard Chartered, New York Life, Merlion Fund and Dunearn Investments, an affiliate of Temasek, have a shareholding in the company.
Under its IPO, Punj plans to enter the capital market with a public issue of 9,172,937 equity shares of Rs 10 each, at a price to be decided through the 100 per cent book-building process. This comprises a fresh issue of 8,355,174 equity shares and an offer for sale of 817,763 equity shares. The issue will also include an employee reservation of 100,000 equity shares and will constitute 17.57 per cent of the post issue paid-up equity share capital of Punj.
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