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Balaji Motion Pictures, the film production house floated by Balaji Telefilms, probably the largest producer of Indian television serials, is looking to raise capital by offloading about 10-15 per cent stake, reports Business Standard. The company is apparently in talks with private equity funds, and the report even speculates a valuation of Rs 1,000 crore for the startup.
Although Balaji is an established outfit in TV serials, the company is only making baby steps in moviedom. Some movies it has produced include Kya Kool Hai Hum, Shootout at Lokhandwala (co-produced with director Sanjay Gupta and Sanjay Dutt’s banner White Feather Films).
It may not be easy to raise capital from the traditional private equity firms who have an aversion towards bollywood. But film funds and avenues like London Stock Exchange's Alternative Investment Market (AIM) may be a good choice. The Indian Film Company of Network18 Group and Eros Group (film distribution) have successfully raised capital from AIM. Balaji also plans movie distribution business. It has already distributed Bhool Bhulaiya and Darling. As for the movie pipeline, it intends to produce, co-produce and distribute around 12 films a year.
According to BS, Centrum Finance is the financial advisor to the company.