UTV Software Communications Ltd. is India’s foremost Media & Entertainment Company with leadership position in 4 Verticals that includes Motion Pictures, Broadcasting, TV Content and New Media (i.e. Animation and Gaming).Listed on the Mumbai Stock Exchange has raised US$70 million gross via a placing of new ordinary shares with investors in the UK, Europe and Asia. Walt Disney Inc holds a strategic stake in UTV. It has subsidiaries with offices across India, the UK and USA.
“We are delighted with the response from investors who recognise that UTV’s early adoption of the Hollywood studio model will enable the Company to establish a leading position in the Indian movie industry. We now have the funds to implement our strategy for rapid, profitable growth.” says Ronnie Screwvala, Non-Executive Chairman .
The money raised will be utilised to fund the US$30.2 million acquisition by UTV Mauritius of a Movie Portfolio from UTV Software Communications Limited (“UTV India”) and certain subsidiaries of UTV India and in the case of the movie Goal, Aim Productions Limited; To finance the development and production (or co-production) of the Movies in Incubation acquired as part of the Movie Portfolio; and To fund the production (or co-production) and/or acquisition of further movie content. The Directors believe that Admission will raise the profile of the Company and its subsidiary UTV Mauritius, promoting further awareness of its business and projecting it internationally as a co-producer of Hollywood movies, as well as Indian movies.
UTV Motion Pictures pioneered the Studio Model in India with operations encompassing Production, Marketing, Distribution and International Co-Productions.Strategic relationships with 20th Century Fox, Walt Disney and Sony Pictures along with Will Smith’s Overbrook have positioned UTV as the only South Asian Company in the International Movie Space. Recent releases include Mira Nair’s “The Namesake” and under-Production M. Night Shyamalan’s “The Happening”. Its Indian slate includes the BAFTA nominated Rang De Basanti with a slate of over 12 movies on the floor, along with its International Co-Productions makes it the largest Movie Studio in South Asia.
In New Media, UTV has one of the largest 3D Animated facilities located in Mumbai and after it acquiring controlling stakes in two Gaming Companies i.e. India Games (India’s largest Mobile Gaming company) and Ignition UK (Console Gaming) along with it having under Production three of the largest Animation movies to come out of India in the next 2 years,it has carved a space as the premier New Media Company in South Asia.
In Television Content, a business with which UTV was founded, the company produces and markets over 20hrs of Television programmes a week in multiple languages. In Broadcasting, after its roaring success of its Kids Channel – Hungama Tv to the Number 1 position in 18 months, UTV launches a bouquet of Channels including India’s first Youth Entertainment Brand and related channels called “Bindass”, a World Cinema Channel entitled “Olive” and a slue of other Channels to be announced soon. UTV will also create its own Distribution Bouquet for its channels.