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Tag: Ashok Wadhwa

  • Abundantia Entertainment unveils its strategic blueprint

    Abundantia Entertainment unveils its strategic blueprint

    MUMBAI: Abundantia Entertainment Private Limited, India’s first independent motion pictures studio, today unveiled its business blueprint and confirmed its film slate for 2014 and 2015. The company also announced the arrival of new strategic investors to support its growth and expansion plans. Built with the vision of producing and supporting progressive, high-quality entertainment content, Abundantia has made strong strides, especially in its motion pictures business, in a short span of time.

     

    Founded in August 2013, Abundantia was incepted by Vikram Malhotra who, in his earlier avatar as COO of Viacom18 Motion Pictures, built a formidable reputation on delivering successes with new-age, clutter-breaking cinema. Vikram has to his credit some of the biggest and most memorable films of the last 3-4 years and also deep relationships with talent in the film and TV business in India.

     

    Driving the model of creating ‘talent-studio partnerships’, Abundantia has firmed up an impressive line-up for the first two years of operations of its motion pictures business. Combined with a strategic stake acquisition of Crouching Tiger Motion Pictures, promoted by Rajnish Khanuja, the studio announced multiple film deals with production houses led by some of the hottest names in the movies business in India. Top-lining the slate are projects with Neeraj Pandey (A Wednesday, Special 26), Shoojit Sircar (Vicky Donor, Madras Café) and Nikhil Advani(D-Day, Kal Ho Na Ho) as well as up-coming talent like Soumik Sen (Gulaab Gang) and a clutch of first-time directors. The slate of 11 films across the first two years carries a combined value of approx Rs. 250 crores and will see these leading directors not only make their own films but also creatively produce work in their respective production houses. At various stages of production, the slate will witness releases starting as early as mid-2014.

     

    In line with its vision and growth drive, Abundantia also announced the arrival of new strategic investors in the form of RW Media (RWM) – a company with significant interest in the Indian media and luxury space. RWM along with a Singapore-based investment fund have acquired a strategic significant minority stake in Abundantia, which will continue to be held in majority, and independently managed, by Vikram Malhotra.

     

    Sharing more about the company’s plans and announcing the new investors, Vikram Malhotra, Managing Director and CEO of Abundantia Entertainment said, “Abundantia is created with a focus to produce and support innovative and impactful content. Our aim is to build a robust business on the back of strategic partnerships on the creative and distribution fronts with like-minded individuals and organizations. In under a year from inception, we have managed to forge strong relationships resulting in an enviable line-up on the motion pictures front. Now, and with an eye on the future, we are delighted to get on-board RW Media and its partners. I look forward to joining hands with our new investors and building a world-class entertainment company”.

     

    Speaking on the investment and RWM’s perspective on the business, Reena Wadhwa, (Chairperson – RW Media), said: “RW Media is a firm believer in the growth story of India’s entertainment, lifestyle and luxury verticals. In Abundantia Entertainment, we see a company that has a global vision, progressive mindset and an unflinching focus on quality. Combined with Vikram’s track-record of success, understanding of the audience and drive for Abudantia to be the best, we have no doubt that this is the company of the future. We are proud to partner Abundantia as it makes its way to the next level”.

     

    Ashok Wadhwa of the Ambit Group, who was instrumental in forging this relationship, added, ”Globally, the media & entertainment business is witnessing a transformation. In India this industry is set to double over the next five years. I see a clear inflection point and organizations that can raise their game are poised to unlock and deliver significant value. In Abundantia and Vikram there exists a premier organization and credible leadership that has the capability to rise to the top. I am delighted that RW Media and a reputed investment fund from Singapore have recognized this potential and have decided to join hands in what promises to be an exciting journey for the company”.

     

  • Indian film industry attracts investors amid challenges

    Indian film industry attracts investors amid challenges

    MUMBAI: The Indian film industry is buoyant and is generating a lot of investor interests globally. However, it is marred by multiple challenges including a huge gap between investors and creative pieces, industry experts opined at a panel discussion at the 13th edition of Ficci Frames here.

    India is one of the biggest producers of films. “However, out of 1,200 odd films that were released last year, only 100 were studio produced,” said Moxie Entertainment MD and independent filmmaker Soumo Ganguly. “This clearly means that the other 1,100 films were made of independent funding either by banks or with the help of high net worth individuals, family, friends and relatives.”

    Ganguly said it is a challenging task to always depend on such funding and, hence, difficult to find finance.

    Speaking about a large pool of capital available by the way of private equity, Ambit Group CEO Ashok Wadhwa pointed out that while securing finance from high net worth individuals is an option, the challenge arises when the investor does not understand creative pieces.

    On a different note, Wadhwa also advised aspiring filmmakers to be absolutely certain about their finances. “I would like to advise aspiring movie makers to not start their projects unless they have 100 per cent of the film expenditure secured in their bank accounts,” he said.

    Speaking about revenues generated through selling of television rights, Blackstone senior managing director of private equity Mathew Cyriac said that the producers are generating more revenue from selling movie telecast rights to broadcasters rather than box office collections.

    “Television is becoming a bigger distribution point for movies. In Kerala, 50-60 per cent of movies get acquired by general entertainment channels. Similar is the case with Karnataka and other southern markets,” Cyriac said.

    Talking about the challenges in movie making business, he said that the studio model is yet to emerge in India.

    “Studio business in India is the early 1950s equivalent of business in the United States. Hence venture capital flavour of investment is seen more in India,” he said.

    Speaking of combining the best of investor and creative pieces to create a hybrid model, Hollywood-based The Allegiance Theater founder and partner Daniel Dubiecki said that it would be fruitful to bring together venture capitalists and studios models.

    “Group of angel investors have increased, which it is good news for the movie business,” he pointed out.

  • Web18 getting into stock broking; partners with Ambit, Centurion Bank

    Web18 getting into stock broking; partners with Ambit, Centurion Bank

    MUMBAI: TV18’s internet ventures arm Web18 is moving into online stockbroking.

    Web18, Ambit and Centurion Bank of Punjab have announced a partnership to pursue the fast-growing brokerage business with a strong internet presence in India.

    In Ambit Capital, which will handle institutional and high-networth business, Ambit will hold 51 per cent while Web18 will have 29 per cent and Centurion Bank of Punjab 20 per cent, said Ambit promoter Ashok Wadhwa.

    Ambit Web18 is the company that will handle retail business. “Ambit Capital will hold 51 per cent in this company, Web18 39 per cent and Centurion Bank of Punjab 10 per cent,” Wadha said.

    Apart from stock broking, a range of financial services including distribution of third party products, portfolio management services etc. will be offered by the venture. With increasing internet penetration in the country, retail customers will be serviced online by the venture, asserts an official release.

    It will leverage upon the online presence of Web18’s several internet properties including moneycontrol.com, easymf.com, poweryourtrade.com and commoditiescontrol.com as well as the extensive branch reach of Centurion Bank of Punjab. The businesses will be managed by a professional board chaired by Rana Talwar.

    Ambit has extensive experience in providing financial services such as investment banking, stock broking and investment advisory services. Web18, a TV18 Group company, is a player in the Indian internet space with presence and partnerships including the online financial space ( moneycontrol.com), e-recruitment ( jobstreet.com), online travel (yatra.com) and allied ventures with over five million visitors per month.

    With over three million customers at its 249 branches, Centurion Bank of Punjab has strong presence across the country and has significant understanding of the retail segment in India.

    Ambit Corporate Finance partner and CEO Ashok Wadhwa said, “We are excited about partnering with a leading business media group and a leading bank in what we believe will create a truly world class Indian Brokerage House”

    Web18 managing director Raghav Bahl added, “Considering Web18’s strong positioning in the online information and transaction segment, a partnership in the e-broking space is a natural extension for us. With their expertise and strong reputation in the market place, our partner’s will enable the venture in capturing a substantial market share in this business.”

    Speaking on the occasion, Centurion Bank of Punjab managing director and CEO Shailendra Bhandari said “We are very pleased with this initiative, which will enable the bank to offer an increasing array of sophisticated financial products to our mass affluent and our high net-worth customers. By adding broking services, the bank will be able to complete its suite of wealth management services, which currently includes complete financial advisory services and distribution of products such as mutual funds and life insurance.”

    The joint venture is subject to obtaining all regulatory approvals. Amarchand Mangaldas are the legal advisors to the joint venture, adds the release.

  • TV industry needs to address structural issues to absorb capital

    TV industry needs to address structural issues to absorb capital

    MUMBAI: The media and entertainment industry will be able to receive large doses of capital only after sorting out several issues, investment bankers at a seminar today said.

    Size, consolidation and scale are hurdles that prevent serious investments into the filmed entertainment business, said Carlyle Asia Investment Advisors managing director Rajeev Gupta, while speaking at FICCI-Frames 2006 on “Financing options for Indian Entertainment Industry.”
    The industry will not be able to absorb capital if the structural issues are not addressed. “Size will be able to deal with volatility. Consolidation pressures are there. Scale also has to be built up, particularly for single theatres. Everybody is so sub scale that the top six listed film entertainment companies earn just Rs 2 billion,” he said.

    With such issues dogging the industry, Waygate Capital is investing in ventures like animation and gaming where technology meets entertainment. “The outsourcing model in animation is not right for India which is about 20 years behind other Asian markets. China, Philippines and Korea have developed a maturity. The focus should be on an IP-driven approach,” said Waygate Capital managing director Rajesh Jog.

    On the gaming side, however, India can be at the forefront of the outsourcing model. There is a rich domestic market to tap too. “In mobile gaming business, we have the chance of becoming leaders. Online gaming is also likely to see growth,” Jog said.

    Waygate is planning to float a film content fund. “We are in talks. We haven’t yet decided on the corpus,” Jog added.

    Which sector is receiving private equity financing? “Broadcasting and print is where capital is going as there are several organised players and scalability is possible,” said GW Capital Private Ltd partner Vikram Narula.

    The last mile business like film exhibition is seeing capital infusion. Once addressability is in place, there will be investment opportunities in Cable TV. Direct-to-home (DTH) will also attract investments.

    “Film and TV content businesses have not seen much private equity. Radio is a new area which can lure in investors,” Narula said, whose company acquired Star’s stake in Radio City.

    Poor performance by many listed media companies have pulled down the credibility of investors in the sector. But what will generate interest in film financing? “Tax structures have to come down to bring down prices and create more demand. The sector needs consolidation. Special verticals like film funds have to be floated,” said Ambit Corporate – Finance Pte Ltd managing director Ashok Wadhwa.