Indian Film Company to delopy £20 mn in Q4 08

MUMBAI: The Indian Film Company (TIFC) will be deploying approximately £20 million in Q4 2008. TIFC invested £21.64 million till Q3 2008. The company’s total net asset value is up 2.38 per cent to £54.28 million, representing 98.68p per share. The company’s cash on the balance sheet is £33.02 million.
In Q3 2008, TIFC released two of its acquisitions namely Welcome and Jab We Met. The company also sold the worldwide distribution rights of Mr and Mrs Khanna and Halla Bol.
Apart from these, the company acquired worldwide distribution rights to three yet-to-be-released films – Singh is Kinng, Golmaal Returns and Kidnap. These movies are scheduled to release during the summer of 2008.
Additionally, TIFC has also inked agreements with directors like Anees Bazmee, Soham Shah and actors like Himesh Reshammiya, Kareena Kapoor and Katrina Kaif.
TIFC will also be investing in five new film productions. TIFC CEO Sandeep Bhargava said, “We are pleased to present the report for the period. Our initial investments have been both commercial and critical successes and we are well placed to continue to build a diverse portfolio of films in the coming year.”