|
The
expansion plans of Mumbai based Post Production biggie Prime
Focus are in top gear.
Five
new facilities including three international ones (one each
in US, UK & Dubai) are being planned in the Prime Focus
pipeline which already boasts of three facilities in Mumbai
(Santcruz, Film City and Andheri).
The studio plans to raise Rs 1 billion through an initial
public offering (IPO) and recently filed its draft red herring
prospectus with SEBI.
Two of the five facilities (The Advertising Film Boutique
at Lower Parel Mumbai and Adlabs JV in Chennai) will become
operational even before the IPO takes off.
Speaking
to Animation 'xpress Prime Focus MD Namit Malhotra
shared,"The Lower Parel facility is strategically located
to cater to the advertising market, what with most agenices
having their offices in the same area. The advertisemnt film
boutique spans an area of approximately 10,000 sq feet and
will become operational from the first week of February with
a team of 50 artists and technicians to begin with"
"The
other facility in Chennai will also become operational by
the same time and is a joint venture with Adlabs. Adlabs has
taken over an existing lab (Vijaya Labs) and we are involved
because of Adlabs. This will be a full service facility catering
to South Indian films, TVCs and Television shows with a team
of about 50 artists and technicians" he added.
Close to Rs 300 Million will be invested in the two new Indian
facilities and another Rs 700 million investment is being
planned for the international ones.
A couple of days ago, commenting on the international facilities,
Namit told Animation 'xpress sister concern Indiantelevision.com
that, "The idea is to diversify our risks and tap overseas
markets"
Be it animation, VFX or post production, Indian studios are
making a mark in the international market. As the studios
now move up the value chain, the next logical step is having
a presence in the overseas markets.
In the Post Production and finishing services area, Prasad
and Rajtaru have already opened facilities internationally
and now with Prime Focus too having major International plans,
it will be interesting to watch how the Indian biggies play
to their strengths internationally.
|