Mar 5, 2008

Religare Enterprises - Press Release - Vistaar Religare Film Fund" (VRFF).

Religare Enterprises - Press Release

Religare Enterprises Ltd has informed that pursuant to the signing of Shareholders Agreement between Religare Enterprises Ltd, Vistaar Religare Capital Advisors Ltd and Vistaar Entertainment Ventures Pvt Ltd for advising, managing and administering Media Fund.

The following release at the Press Conference in respect of launch of the "Vistaar Religare Film Fund" (VRFF).

"Religare Enterprises Ltd along with Vistaar Entertainment Ventures on March 04, 2008 announced the launch of the "Vistaar Religare Film Fund" (VRFF), India's first ever film fund. VRFF WILL be India's first regulated film fund and the AMC Vistaar Religare Capital Advisors Ltd, has filed for an approval with SEBI as a Venture Capital Fund (VCF). The Fund shall, in the first round, have a corpus of approximately Rs 200 crores and would be close-ended in nature with a lock-in of 5 years.

The Vistaar Religare Film Fund would be a first in market product and would invest in film projects in India and Overseas. The fund shall focus on providing new talent a platform for equality of market exploitation. The Fund will focus on "The Business of Show Business..." and provide ample opportunity for new directors, talent and writers. With a strong investment committee, the key to success is the choice of strong scripts that shall be the touchstone of the funds investment strategy. The attempt will be to create a scenario that offers viewers more choice of selection and looks beyond the traditional "Star" system.

Commenting on the launch, Mr. Sunil Godhwani, CEO and MD, Religare Enterprises Ltd said, "We have always believed in innovations and for us spotting new opportunities for creating and maximizing wealth for our investors is a constant. This Fund will be yet another step from our umbrella in that direction and it's a strong combination of sharp, seasoned financial minds along with experienced and innovative minds from the business of entertainment and films."

0 comments: