Krayon Pictures : Rakesh Jhunjhunwala Acquires 30% In the stock

by khalid on 21/12/2010 · 1 comment

Indian Warren Buffett , billionaire investor Rakesh Jhunjhunwala, has bought 30% stake in Pune-based Krayon Pictures Pvt Ltd, an animation film production company. He always invests in such a company which have a capability to become a blue chip in future. Krayon Pictures is founded by Kishor Patil, who is also CEO and managing director of KPIT Cummins Infosystems, Nishith Takia and Namrata Sharma. Krayon is an unlisted company and aiming to differentiate itself from other animation studios in India, such as Maya and Tata Elxsi’s Visual Computing Labs, by creating original content for a global audience. This would be its own intellectual property that would allow it to share in the profits, which can often be disproportionate to the cost of producing a film. Krayon Pictures is a company that is poised to serve the global market in the area of 3D Animation. With a focus on delivering high quality 3-D creations.

The company said in a statement that they will use this money raised by this transaction for its expansion plans. Jhunjhunwala’s first unlisted investment was KPIT Cummins Infosystems, which is a Pune-based niche IT firm that is a specialist in the auto sector. He invested 10 years ago in this company and now it got listed on BSE and NSE. Some of Rakesh Jhunjhunwala’s PE investments include Nandan Biomatrix, Hungama Mobile, JBCN Management Consulting and Care Hospitals.

Krayon’s hopes that it’s first movie ‘Delhi Safari’ will firmly set itself on the path of being a leader in 3D animated content production in India. The film directed by Nikhil Advani and co-produced with People Tree Films has the voices of Urrmila Matondkar, Akshay Khanna, Boman Irani, Govinda and Prem Chopra and has music composed by Shankar Ehsaan Loy.

Last month, Venture capital firm IndoUS Venture Partners invested $5 Mn in Hyderabad-based animation firm VenSat Tech Services Pvt Ltd (VenSat).

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