MUMBAI: HSBC Investments (Singapore) Ltd. has increased its stake to 9.10 per cent in The Indian Film Company (IFC), a specialist film investment firm where TV18 Group has substantial interest.
HSBC holds 5.01 million equity shares in IFC, following its recent purchase in the market. IFC is listed on the Alternative Investment Market (AIM) of the London Stock Exchange.
“HSBC has recently bought in the market and increased its stake in our company,” confirms IFC CEO Sandeep Bhargava to Indiantelevision.com.
HSBC made a purchase of 1.08 million equity shares of IFC in the market for a consideration of ? 817,000 (Rs 65.36 million) in mid-December.
Network18 Fincap Ltd has 18.18 per cent stake in IFC and BK Media Mauritius Pvt Ltd 3.45 per cent. Raghav Bahl is a director of IFC and substantial shareholder of both Network 18 Fincap and BK Media Mauritius.
Viacom Brand Solutions holds 4.55 per cent while Halbis Capital Management has 11.05 per cent, Elara Capital 10.90 per cent and Dundee Leeds Management 9.09 per cent (as of 31 July, 2007).
The Indian Film Company raised ?55 million (Rs 4.4 billion) through an initial public offering (IPO) this year. The company seeks to invest in films where it retains full ownership of all Intellectual Property Rights (IPR), although ownership may be shared with co-producers, directors and actors if necessary.
IFC has taken worldwide distribution of Welcome and Jab We Met. The co-productions include Bhootnath, Little Zizou, Halla Bol, Golmaal Returns and Loot.
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