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K Sera Sera to raise Rs 60 crore from the capital markets

07-March-2005
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K Sera Sera to raise Rs 60 crore from the capital markets

Film and television software production house K Sera Sera Productions Limited has announced its decision to tap the capital markets to raise funds not exceeding Rs 60 crore. The company has also decided to appoint Enam Financial Consultants and UTI Securities as Lead Managers to the issue. The board also accepted the resignation of Tiwari Samani & Associates as joint auditors of the company and appointed RSM & Co. in their place. An Extraordinary General Meeting of the company is convened on April 9, 2005 to endorse this decision.

The funds raised would be utilised to further the company's business of film and television software production as well as distribution of films in selected areas. The company has already produced films like Ek Hasina Thi, Darna Mana Hai, Ab Tak Chappan, Gayab Naach and Vaastu Shahtra in association with Ram Gopal Varma. Presently it has four films on the floors -- My Wife's Murder, James, Sarkar and Darna Jaroori Hai.

The company also produced two serials for Sahara One - Aao Bahen Chugli Karen and Kuch Love Kuch Masti. The company is working on several serial ideas in different genres, the first of which is likely to be aired on Zee TV by April 18. For the nine months ending December 31, 2004, the company reported a 233 per cent jump in its net profits to Rs 248 lakh as against Rs 74.6 lakh in the corresponding period last year. During the same period income from operations jumped to Rs 3335 lakh from Rs 1064 lakh in the corresponding period last year.

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