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Shemaroo to invest Rs 200 cr on biz expansion

Media house Shemaroo Entertainment plans to invest Rs 200 crore in the next 18 months as it eyes to expand its operations across various verticals of film and video business.

business Updated: Nov 02, 2008 10:31 IST

Media house Shemaroo Entertainment plans to invest Rs 200 crore in the next 18 months as it eyes to expand its operations across various verticals of film and video business.

"Earlier we were primarily into home video business. Now we are planning to expand fast into other areas of entertainment. For this we have earmarked an investment of Rs 200 crore in the next 18 months," Shemaroo Entertainment Director Hiren Gada told PTI.

The new area that the company intends to get into is digital distribution of alternate film content through mobile phone and IPTV, he added.

"With technology advancing towards new heights, we are planning to go big in digital film distribution. We are also acquiring more content for alternate film category, like spiritual, Osho and literature clips.

"The business of alternative content is an unexplored territory and Shemaroo aims to make it big in this area. We intend to expand the market itself by creating newer avenues to explore and lead the industry to newer horizons. This kind of content is certainly a unique entertainment genre that audiences will love to consume," Gada said.

On the source of funding, he said the amount would be raised through a mix of debt and equity at an equal proportion.

The company would produce four Hindi feature films next fiscal, besides making animated films, Gada said.

An overall corpus of Rs 75 crore has been earmarked by the company for content creation business with Rs 50 crore for film production and Rs 25 crore for animation films.