MUMBAI: The Indian Film Company Limited (IFC), which raised Rs 4.45 billion (£55 million) on AIM last month, has made further investments totalling approximately over Rs 970 million (£12 million) into six film projects, which will be produced within the forthcoming year.
As was first reported by Businessofcinema.com, one of these films will be titled Loot and is budgeted at Rs 120 million (Rs 12 crores). Loot will be a co-production between IFC and Suniel Shetty’s Popcorn Entertainment.
With the addition of these films, IFC now has 20 films in its portfolio and has committed approximately 60 per cent of funds raised on AIM at admission.
Loot directed by Ranjneesh Thakur will go into production in August 2007. This will be followed by Masquerade directed by Kundan Shah and Fruit N Nut directed by Kunal Vijayakar, both of which will go into production in November 2007.
For 2008, IFC will be rolling out Bombay Velvet, which will be directed by Anurag Kashyap; the remake of Chashme Badoor directed by Onir, and a further production in 2009 to be directed by Priyadarshan. Except for Loot, which the company is co-producing with Popcorn Entertainment, the other five movies will be solely produced by IFC.
India International Film Advisors Pvt Ltd CEO Sandeep Bhargava said, “We are very pleased to have invested in these six projects, which are exactly the sort of diverse and varied films that we envisaged when we joined AIM. Most of the projects are at an advanced stage of pre-production with casts in place or short listed. We therefore expect to soon be able to provide shareholders with a good idea of the kind of returns we can generate.â€Â
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