Telephoto Entertainments' IPO

By Our Corporate Reporter

CHENNAI, JUNE 2. Telephoto Entertainments, a Chennai based company, engaged in production of advertisement films, documentaries, television serials and feature films, is planning to set up an animation and special effects studio at is existing leased premises in the city.

Addressing presspersons here today Mr. Suresh Chandra Menon, managing director of the company, said there was tremendous scope for the animation market which was still at the nascent stage. Graphics was another field where 20 to 30 per cent of the content of a film was being done graphically in Hollywood films. In India graphics work was now done mainly in songs. He said Telephoto would be concentrating on the effect side to provide quality.

Mrs. Asha Menon (popular cine artiste Revathy), co-promoter, said five serials of Telephoto were currently being telecast daily in the Sun TV network.

The company is also talking to Sony and Zee Television for telecasting its contents. Besides it is planning to provide 130 episodes for Doordarshan from August. Mr. Suresh Menon said talks were on with channel providers in Sri Lanka and Singapore to expand the company's operations in these areas.

The animation and special effects studio being set up currently is estimated to cost Rs. 3.15 crores. Centurion Bank which appraised the project has funded to the extent of Rs. 40 lakhs and the balance is secured through the issue of 27.50 lakh equity shares of Rs. 10 each at par to the investing public.

The IPO is slated to remain open from June 19 to 24 and the shares are to be listed on the Mumbai and Chennai Stock Exchanges. Ind Global Financial Trust is the lead manager to the issue.

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Section  : Business
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