DQ Entertainment to list on AIM; raise $60 million


    MUMBAI: After companies like Eros International, UTV Motion Pictures and the Indian Film Company listed on London Stock Exchange’s Alternative Investment Market (AIM), now Hyderabad based animation and gaming company DQ Entertainment is also planning to list on AIM.

    The company is planning to raise $60 million of equity capital, including approximately $35 million of new money, by way of an institutional placing. which will be infused into film production, investment in intellectual property, new facilities and fund acquisitions and joint ventures. 

    Co-production investments are expected to include feature films and DVD/TV productions with European and US based production houses. This will provide DQE with long term recurring revenues from broadcasting, distribution and merchandising rights on the intellectual property. Strategic stakes will also be sought in internationally acclaimed creative companies.

    As has already been reported by Businessofcinema.com, DQ Entertainment recently announced its intention of entering the Bollywood live action feature film and animated TV series production space in India and abroad. The live action feature film production will be based on cricket with international and Indian actors playing the lead roles. The animated TV series will be exclusively for the Indian TV industry, targeting children and teens.

    DQ Entertainment chairman and CEO Tapaas Chakravarti said, “Today’s announcement marks an important step in our growth strategy to become a market leader in the global animation and gaming animation content production industry. It will increase further our profile and credibility and provide us with the funds to accelerate our organic growth and acquisition strategy.”

    “There is a significant market opportunity available to the company, which by virtue of our management’s proven track record and inherent competitive advantages we are ideally placed to exploit. We are very excited about the future for DQ Entertainment and its investors,” he added.

    The company’s current clients include Walt Disney Television Animation, American Greetings, Marvel, Nickelodeon Animation Studios, Electronic Arts Worldwide, Sony, NBC-Universal, BBC, Classic Media and Method Films & Moonscoop groups of France.

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    DQ Entertainment forays into films & TV