MUMBAI: Bollywood is gung-ho on the overseas market. After companies like Eros International, UTV Motion Pictures and The Indian Film Company listed on London Stock Exchange’s Alternate Investment Market (AIM), now Ekta Kapoor’s film production and distribution arm – Balaji Motion Pictures is eyeing the same.
After dominating the television space for years, Balaji made an aggressive entry into Bollywood by inking big ticket deals with companies like T-Series, Popcorn Motion Pictures, White Feather Films for co-productions. The company has also recently stepped up on its film distribution. Now Balaji Motion Pictures is in the process of raising funds for their overseas listing.
When contacted by Businessofcinema.com, Balaji Motion Pictures CEO Ramesh Sippy said, “Well we do have plans but they will shape up in a couple of months and not immediately.”
Says an industry source, “Balaji has big plans under its belt. They will be setting offices in the US soon for their operations.”
Lately it was reported that Balaji Telefilms Private Limited, which is listed on the BSE (Bombay Stock Exchange) sold off 90,000 shares in the open market. A source adds, “The money that the company got out of selling the shares of Balaji will be used for the necessary processes to list on London Stock Exchange’s Alternate Investment Market (AIM).”
Recently Balaji Motion Pictures has been on an expansion spree. The company ventured into the distribution arena and acquired the rights of two T-Series films – Bhool Bhulaiya and Darling. Ram Gopal Varma’s Sarkar Raaj was also acquired by Balaji from Adlabs. Shootout at Lokhandwala was the first film from the Balaji and White Feather Film deal. They also inked a seven film deal with T-Series.
