MUMBAI: The promoters of K Sera Sera have exited, giving way to a new management in the film production company. The GDR holders have 57.90 per cent stake in the company, while 41.32 per cent is with the public.
In March 2008, the promoters held 17.05 per cent stake. This has further dropped to a negligible 0.78 per cent, according to data provided by the company till 31 March 2009.
The new management has floated two subsidiaries in India, K Sera Sera Box Office Pvt. Ltd and K Sera Sera Technologies Pvt Ltd. The film distribution and small-to-medium budget movies will be channelised through K Sera Sera Box Office, says a source in the company.
K Sera Sera Technologies, on the other hand, will be producing animation movies and getting into graphics.
K Sera Sera Productions Ltd, the listed entity, will engage in big budget movies. The company has announced a slate of ten films in its production pipeline for the year 2009-10 for which it has reportedly given advances of Rs 200 million to leading artists and directors.
K Sera Sera Productions had earlier reported a consolidated net profit of Rs 606.35 million for the fiscal year ended March 31 2009, up 53 per cent from Rs 399 million a year ago.
Total income jumped eight per cent to Rs 1.89 billion, from Rs 1.73 billion in FY‘08.
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