DQE to co-produce animation films
The Hyderabad-based firm will spend Rs 250 crore for co-production of animation films, bringing in new softwares.india Updated: Aug 07, 2006 20:11 IST
Hyderabad-based animation and visual effects firm DQ Entertainment has earmarked a capital expenditure of Rs 250 crore over the next three years for co-production of animation films, bringing in new softwares.
The firm also has plans to start a distribution arm.
"We plan to infuse around Rs 250 crore in the next three years for co-producing animated films and for bringing in new software," DQE Managing Director and CEO Tapas Chakravarti said.
The company was also mulling setting up a distribution company in association with France-based Onyx films, he added.
Recently DQ and Onyx Films started CGI Films in a joint-venture partnership to produce animation films with an investment of euro 1.5 million.
The expansion plans would be funded by divesting stakes to new private equity partners and also to the existing ones, said Chakravarti.
DQE is jointly owned by a group of international venture equity partners, including International Finance Corporation, Washington, TDA Capital group, Gary Wendt, i-Labs, and IL&FS.
DQE has also taken a 20 per cent stake in the French firm's television arm, Method Films, for euro two million.
The venture has identified three feature films with a budget of $89.5 million, Chakravarti said.
Asked if the company had any plans of tapping the markets, Chakravarti said there were no such plans in the immediate future but DQE was open to the idea.