Saregama to invest Rs.1 bn in film production

Kolkata, June 28 (IANS) Saregama India Ltd, the entertainment arm of the Rs.135 billion RPG Group, announced Saturday it would invest up to Rs.1.5 billion in film production and other businesses over the next 18 months.

Speaking during the launch of the music album of a Bengali film "Khela", produced by the company, Saregama vice-chairman Sanjiv Goenka said: "We plan to invest Rs.1-1.5 billion in Saregama over a period of 12-18 months."

The company has already produced several movies, including Bengali and Hindi films.

"We will invest Rs.1 billion for films in the coming two years," he added.

Saregama would soon foray into event management. Mentioning that events are important aspects of entertainment, Goenka said: "We are in the final stage of talks with one event management company. We plan to pick up minority stake in that company."

Saregama's turnover during the 2008-09 fiscal ending March 31 was Rs.14.46 billion.

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