GV Films plans to raise Rs 500 cr to Rs 1,000 cr

 Mumbai based production and distribution house, GV Films plans to raise between Rs 500-1000 crore through various sources to finance its future expansion plans.

“We are talking to various people including private equity players and government-owned funds to raise Rs 500-1,000 crore. The funds will be utilised towards future plans of the company,” GV Films chairman and managing director MV Balagiri said.

GV Films was the first company in the movie business to get listed in the Indian bourses. The company was the first to export Tamil films to Japan and later to the other non-traditional, South East Asian markets like Korea. The company had acquired internet rights for over 6,000 films in 1999-2000 for web casting and now owns a library of over 14,000 films. The company is looking to set up miniplexes across the country in a phased manner.

“We are planning 300 miniplexes across the country. Each miniplex will have two screens and entail an investment of around Rs 4 crore each,” Balagiri said.
Out of these 300, GV Films would be set up 30 each in Maharashtra and Tamil Nadu.