Bollywood Takes the London Stock Exchange by its Horns
Aug. 4 – Do you like Bollywood movies? Why not buy shares? Hindi film companies being traded on the London Stock Exchange's AIM (Alternate Investment Market) are realizing multi-million dollar returns on investments.
Three Bollywood majors — Eros, UTV Motion Pictures and Indian Films — have already had a huge success in their initial run on the AIM. And now many more Bollywood biggies are looking to raise funds through this route, the Economic Times reported.
Business reports indicate that the Indian media and entertainment industry is growing at over 18 percent CAGR and is slated to exceed US$30 billion by 2012. Eros International chairman and CEO Kishore Lulla, whose firm was the first Bollywood film corporation to be launched on the AIM, says "AIM gave us increased financial strength, visibility and currency to achieve our objectives. And, we are humbled to be recognised as pioneers of elevating Indian cinema to new heights."
Indian Films raised £55 million (Rs 495 crore) from the AIM in 2007 and within a year of operations, the company has returned £2.27 million gross profits on its investment of £36.31 million. Their releases like "Jab We Met " and "Welcome" were huge money-spinners and their next couple of releases — like "Singh Is King" and "Ghajini" — have also added to the company profile.
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