This Chennai based company has filed a DRHP with SEBI on 12th July 2007 for public issue of 90 lakh equity shares of Rs.10 each at a premium to be decided later. Issue will constitute 25.97% of the fully diluted post issue equity of the company.
The stock is to be listed on the BSE and NSE. The Book Running Lead Manager is Religare Securities.
As the name suggests, the company is involved in the business of film production, distribution and exhibition. With operations in 69 theatres of distribution territories of Hyderabad and Tamil Nadu, it intends to be one of the leading theatre chains in Southern India. It aims to create a strong theatre chain by acquiring existing single screen theatres on lease and convert them into digital theatres bringing latest releases to the theatres.
The main area of focus for the company has been the South Indian film industry - Tamil feature films and Tamil television serials. MidValley was the producer of Thambi, a block buster movie starring Madhavan, and more than 500 episodes of television serials. It is funded by a clutch of investors from Malaysia and has so far produced eight Tamil films. It has also acquired overseas telecast rights of over 1,200 movies.
The company has already taken on lease about 15 theatres each in Chennai and Hyderabad on long-term lease. Mid Valley also plans to produce 4-5 movies every year in Tamil, Telugu, English and Hindi. It plans to put up multiplexes, shopping malls, and even hotels within the next 36 months in Chennai, Hyderabad, Delhi, and Bangalore.