K Sera Sera to make big budget films

The Mumbai-based production house K Sera Sera is planning to shift its focus from mid size to big budget films this year.

The company has struck deals with Percept Picture Company and Shree Ashtavinayak Cine Vision to produce ten films each for them.

It has also tied up with Sohail Khan productions and SBL Films for production of movies. The company has also decided to refurbish its profile by roping in industry stalwarts such as Rumi Jaffery, Kundan Shah, Anubhav Sinha, Abbas-Mustan, Ram Gopal Verma and Priyadarshan.

The company ventured into television content production in 2003-04, and a subsidiary company Twenty Twenty was incorporated in 2004 to concentrate on television content.

That apart, the production house has also set up a division for distribution of movies. This division will cater to movies produced by the company as well as movies produced under other banners.

K Sera Sera, to finance the movie production business, will be entering the capital market with a public issue of 50 lakh (5 million) equity shares of Rs 10 each, at a premium to be decided by the book building process.

The issue has a reservation of 2.5 lakh equity shares for eligible employees. The public issue will open on 16 February and close on 22 February. The net offer to Public would constitute 24.34 per cent of the fully diluted post-issue paid-up capital of the company.

The issue is being made to raise funds for infrastructure facility which is mainly for acquiring an office as well as some editing machines, distribution activities and to augment working capital resources for movie production.

The existing equity shares of the company are listed on the BSE and shares issued through the proposed issue will be listed on the BSE. UTI Securities and Enam financial\consultants are the book running lead managers to the issue.