AB Corp mulls listing on Indian bourses EXCLUSIVE!

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BUSINESSOFCINEMA.COM EXCLUSIVE!

MUMBAI: Amitabh Bachchan’s production company AB Corp is now out of the red and has declared a profit. What’s more, the company is also mulling listing on the Indian bourses in the near future.

Bachchan’s ABCL (which has now been re-launched as AB Corp) was declared a sick company in 1999 when the company owed a total of Rs 900 million (Rs 90 crores) in the market.

However, things are now looking up for the actor. Speaking to Businessofcinema.com on the listing, Bachchan says, “Our documentation for the same is ready and we shall wait for an opportune time to list on the Indian stock market.”

“This year we have declared dividend for our shareholders after eight years. We are moving slowly forward, in order not to make the same mistakes as last time,” he adds.

With the sudden rush of Indian film companies like Eros International, The Indian Film Company and UTV Motion Pictures eyeing overseas listing on London Stock Exchange’s Alternate Investment Market (AIM), a recent media report citied AB Corp’s possible listing on the same. Bachchan agrees that some talks have taken place but nothing is confirmed. “As yet there is no listing in AIM and we do not have concrete plans. Some talks have taken place, but nothing is confirmed,” says he.

AB Corp’s focus in the coming years will be in the areas of production of content in the film, television and audio media. “Our aim will be to enhance the brand Bachchan through various activities and doing projects where we share through joint ventures,” says Bachchan.

On the acting front, Bachchan currently has films like Ram Gopal Varma’s Sarkar Raj, BR Films’ Bhootnath, Sujoy Ghosh’s Aladdin and Mira Nair’s Shantaram under his belt. Bachchan is, however, not doing Percept Picture Company’s Johnny Walker. “I am not doing Johnny Walker and have returned the signing amount they gave me,” he says.

What’s more, after his tryst with television via Star Plus’ Kaun Banega Crorepati, the actor is now also looking at more television assignments. “I am talking to all television channels but there is nothing concrete yet,” he adds.

Throwing light on the current scenario of the Indian film industry, with the influx of corporates, Bachchan feels that funding of movie projects is not a problem. “The key today is the various avenues for the exploitation of content. It is boom time for the entertainment industry,” he concludes.