Mumbai: Venus managing director Ratan Jain’s son, Raj Jain has floated a new company called Formula Bollywood, which will distribute Hollywood and other English language films in India.
 
The first step under this initiative was the release of MGM Studios’ How To Lose Friends And Alienate People in India on 6 February.
 
Commenting on this initiative Raj says, "We distributed How To Lose Friends And Alienate People all over India with 50 prints. This was our first initiative to test the market and depending on the response we will take it forward and make further investments."
 
In Bombay, the movie was distributed through Shringar Films, in Delhi through A A Films and in Kolkata through Inox.         
 
Apart from movie distribution, Formula Bollywood, which was launched in mid-last year will also produce small budget Hindi films, work for which is underway and an announcement will be made on a later date.