Network18 invests in Indian Film Company

MUMBAI: Network 18, the holding company of TV18, GBN, Web18, HomeShop 18 and Studio 18 will be investing $10 million in a new entertainment company called The Indian Film Company, which will be listed on the London Stock Exchange’s Alternative Investment Market (AIM) by mid-May.

The $ 110 million Indian Film Company is proposed to be listed on the Alternative Investment Market (AIM) of the London Stock Exchange. The Indian Film Company is being sponsored by TV 18 Group founder and promoter Raghav Bahl.

Studio18, the full spectrum motion picture division of Network 18, will offer all its productions to The Indian Film Company on a “first rights” basis. Studio18 shall also offer a full menu of services, including production supervision, domestic and international theatrical distribution, home video distribution, and film acquisition and syndication services.

Bahl 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.”

Studio 18 CEO Sandeep Bhargava, who will take up his 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.”