Prasad raises Rs 30 crores from IL&FS Investment Managers

nullPrasad Corporation Ltd (Prasad EFX) doing business as EFX- Magic in Motion recently announced that the company has concluded a Rs 30 crores Private Equity financing round with Leverage India Fund, a Fund managed by IL&FS Investment Managers. Spark Capital Advisors Pvt Ltd acted as Financial Advisors to Prasad EFX for this placement. EFX- Magic in Motion is India’s largest digital film post-production house and has operations in Chennai, Mumbai, Hyderabad and Los Angeles with an additional marketing presence in Delhi, Singapore and Dubai. An official release from the company states, “With film work coming from offshore markets now and producers becoming increasingly price sensitive, the Company believes that there is significant potential to expand it’s presence in the US and other high-cost markets like Australia and Europe” “Prasad EFX recently commenced business in the US and has already received it’s first project for Digital Intermediate and other related services for a Hollywood film. EFX is also focusing on expanding its regional presence while establishing a large infrastructure to cater to the diverse needs of the media and entertainment industry” the release further adds.