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Wednesday, May 10, 2006

5 movies to be produced in a yr: Asthavinayak Cinevision

Asthavinayak Cinevision is coming up with an IPO to expand its film production business.

CFO at Asthavinayak Cinevision, Shyam Sundar says, the company is looking at raising over Rs 50 crore through this issue. According to him, the company is coming out with an IPO to maintain pace of growth. The company is aiming at producing an average of five movies a year, he informs.

As of December 31, he says, the company did 66% business in production and 32% distribution, he says. Going forward too, the company's focus will be film production, says Sundar.

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