iDreams to raise funds for expansion

MUMBAI: iDream Productions has expansion plans under its belt. Sources inform that the company plans to raise a $100 million in funds.

However, when contacted iDream Productions president international sales Rohit Sharma says, “I can’t confirm the figure but yes we have two investors who will fund the plans. And we have a strong track record so money should not be an issue.”

Plans are also to revive their film production house as well as also setting up a studio in India. Sharma says, “Yes there are plans of expanding and setting up a studio is one of them. We are working towards getting a place to set up the studio. Many film makers in the US and UK have budget constraints and want a cheaper place to shoot. Films, which don’t have much of outdoor can rent our studio. This will be open to Bollywood films as well. Not every production can afford to shoot in places like Mauritius, Australia etc.”

On the film production front, the company has been lying low since they last produced the Urmila Matondkar starrer Naina in 2003.

Post Naina iDream Productions shot for an English flick The Sick House in 2006, which will be releasing soon. Sharma says, “When we produced Naina the response was good, but because of some unfortunate incidents like the bomb blast, which followed Joh Bole So Nihaal’s release, didn’t get us any audience from the next week. So we took a break from Bollywood and were focusing on our sales agency.”

Sharma feels that the market has grown to another level now and this is the right time to cash in on that. iDreams is planning to make one big budget film and five medium budget films of around Rs 8 crores a year.

Plans are also afoot to make a sequel to Jajantaram Mamantaram. “Star has the rights to our film, which will be expiring soon and five channels have approached us already. I think the sequel of the film has the potential to do well. It has reached the third draft and we are looking at a bigger star cast,” says Sharma.

Speaking about the budget, Sharma adds, “It’s too early to talk about it, but yes it will be on a bigger platform so more money will have to be wired in.”

The company is also stepping up on the international distribution front. Kaushik Roy’s recently released movie Apna Aasman will be will be distributed by them in the overseas. “Though the movie didn’t do well here, it is sure to sell there because of Irrfan Khan. We will be showcasing 10 – 15 movies at the American Film Festival, which is scheduled to take place in October.”