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Percept plans to go public; to raise Rs 1,500 crore

The company will bring out an IPO in the second half of 2008 and has already raised Rs 150 crore from financial institutions

Percept Ltd, the entertainment, media and communications company, is looking to scale up its content and intellectual property rights (IPR) businesses. Also aiming at inorganic growth within the media and communication domain, Percept aims to raise Rs 1,500 crore through private equity, IPO and debt for the purpose.

According to an official communiqué, the funds raised will be used in acquisitions and strategic partnerships. The company intends to diversify its business into IPR acquisition, home video distribution, film production studio, development of digital and mobile content and international distribution.

While Round 1 of funding from financial investors is expected to close soon, the IPO is slated for the second half of 2008.

Percept plans to go public; to raise Rs 1,500 crore
The company has been evaluated currently at Rs 1,200 crore. Of the targeted Rs 1,500 crore, the company has already raised Rs 150 crore through Edelweiss, Passport Capital and Indivision India Partners (IIP).

According to Ajay Upadhyay, president, corporate affairs, Percept Ltd, the Indian entertainment and media industry is estimated to touch Rs 1,15,700 crore by 2012 with a compounded annual growth rate of 18 per cent.

The company hopes that the investments will result in better integrated content business, thus covering the complete value chain. Animation – both development and production – is another field that it is seriously looking into.

Founded in 1984, Percept Holdings was later restructured as Percept Ltd. Today, the company has 62 offices in India and West Asia, and a manpower of 1,200; it operates in three verticals – entertainment (content, talent management, sports, experiential and entertainment marketing); media (media services, out-of-home and digital media); and communications (advertising, public relations and IMC consultancy).

"The company is all set to enter the global stage and we will be partnering with strategic partners going forward," Upadhyay was quoted as saying by the communiqué.

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