Percept Picture Company Private Ltd (PPC) has entered into an agreement with Bennett, Coleman & Company Ltd (BCCL) to issue shares to it.
The company which is in its third full year of operation has been valued at Rs 120 crore. The investment by BCCL is subject to regulatory and shareholder approval.
Mahesh Ramanathan, COO, PPC, commenting on the investment by BCCL said, “PPC's growth has reached inflexion point and strategic partnerships will enable us to further strengthen our position as India's premier content creator across delivery platforms.
We see synergies in strategic stake sale to BCCL that would enable us to innovatively exploit communication vehicles for our content. BCCL's entry into PPC family is sure to accelerate our growth trajectory.”
Sivakumar, director, Private Treaties said, “We are pleased to make a strategic investment in the fast growing business of PPC. With its established strengths and its future plans in the entertainment space, the company is poised for significant growth.”
PPC has been aggressively pursuing projects and plans to complete over 30 Bollywood and International movies over the next three years.
Three movies are presently on the floor and other three should be ready by May 2006. As a part of the growth plans, PPC has tied up with film directors like Ram Gopal Varma, Priyadarshan, David Dhawan, Anubhav Sinha, Anees Bazmi amongst others.