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.