Bobby Bedi-led production house Kaleidoscope is looking at another round of equity dilution to raise funds. The firm which had brought in media house Anand Bazaar Patrika as a strategic investor with infusion of Rs 20 crore two years back and also has investments from multiplex operator Inox, is now talking to private equity investors besides looking at an overseas float on London’s AIM. According to an Economic Times report, the firm could be looking to raise more than $100 million at AIM.
AIM has become an attractive destination for small and mid sized Indian firms looking to raise capital. This year itself a number of India focused firms listed on AIM with KSK Emerging India Energy Fund, a closed ended investment company established to fund companies in the Indian power and energy sector, raising $200 million, one of the largest AIM floats in 2008.
Some of the other firms which listed on AIM this year include Indus Gas, OPG Power Ventures and Mortice Ltd. The four firms together raised around $387 million together.
Kaleidoscope is into film & television production with films like Bandit Queen, Fire, Electric Moon, Saathiya and Maqbool and The Rising among others to its credit. Besides its core business it also has a joint venture with Film Finances Inc, the world’s largest completion bond company which provides gurantees to movie financiers for completion of a project. This JV is in the business of offering film completion services to banks, corporate and institutional lenders in India.
The firm counts amongst its board members some prominent members of financial consultancy and venture capital financiers such as Kanwal Rekhi, Saurabh Srivastava and KN Memani(E&Y).