It is the first in the Bollywood history. Mukta Arts, the flagship vehicle of Subash Ghai is going in for an IPO. Mukta Arts is Subash Ghai's motion picture and film production house. Mukta Arts is open for book building from July 10. The IPO is approximately Rs. 100 crore (around 23.25 million USD). Mukta Arts proposes to use the monies raised through this public issue for its ambitious expansion program. The IPO is for 50,000 equity shares at a face value of Rs 5 each, at a premium. The issue will consist of a bookbuilding portion and a fixed price portion. The company expects the issue price to be between Rs 150 and Rs 200. The bookbuilding portion closes on July 15. Speaking to journos, Ghai was buoyant and upbeat. He is expecting his IPO to break many records and set many more. He said that the track record of Mukta Arts and its hardware backup, he was very optimistic. He said "The public has faith in Mukta Arts, in our work for the last 21 years, and I have faith in myself. For every vision, success and performance is important and Mukta has proved itself in both quarters." The funds will help expand its existing studio facilities by establishing a music-recording studio, mixing theatre and editing suites. Other plans include acquiring rights (theatrical, television, satellite, cable, overseas, musical, CD, DVD, internet etc) of movies of production houses and consolidating its library. Mukta Arts also has plans of production and marketing of TV serials and music albums on the anvil. Mukta Arts is also planning to establish a film and television institute which will "promote the best talent by training talented youngsters in different areas connected with the entertainment industry." As Ghai's formidable finds include Madhuri Dixit, Manisha Koirala, Mahima Chaudhari and Jackie Shroff, the training institute will no doubt attract much attention. It may be recalled that Ajay Devgan's similar plans for his company Devgan Entertainment and Software Production Ltd had to be shelved, as there was practically no interest in these new Bollywood industry model. Ghai says that he has no qualms about going public. "We are the first ones in the history of the Indian film industry to go public, but that's okay. Our insurance for Taal, was also a similar first." We wish Mukta Arts all the best in its endeavors.
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