Jakarta/ New Delhi (Big Wire) SRam & MRam Ltd, a leading diversified business conglomerate headquartered in the United Kingdom, and Kalam Media, an Indian media house, have announced signing of a joint venture (JV) worth $100 million (Rs.670 crore) to form India’s largest start-up in media and entertainment space.
The JV company – SRam & MRam Kalam Media Pvt. Ltd. – will be headquartered out of India.
It will source high demand pan-Indian media and entertainment content and distribute it through a global network across Americas, Europe, Far East and Australia, company officials said, adding that the raised capital infusion from SRam & MRam (UK) will be scheduled over three phases of three years each.
The JV agreement was signed between SRam & MRam Ltd. (UK) and Kalam Media at Jakarta on Wednesday.
Sram & MRam (UK) chairman Sailesh Hiranandani said that with the JV the group aims to diversify in the media and entertainment sector globally.
He said in the first phase, they will be focusing on producing, aggregating and distributing unique content across key
geographies including Indonesia.
“The first will be a film produced in Indonesia through Pt. SKV Movie Entertainment and there will be many more to follow.
In addition, there will also be a cross cultural interaction between the Indian and the Indonesian film industries for the mutual benefit of both markets,” Hiranandani said.
“We are happy to partner with Kalam Media in this initiative and would do whatever it takes to make SRam & MRam Kalam Media a tremendous success world over.
‘The deep-rooted insights and experience of Kalam Media would enable the JV to produce and aggregate content which appeals in the global markets.”
Kalam Media chairman Ashutosh Singh said they are excited to partner with SRam & MRam (UK) in this unique initiative, through which they aim to change the dynamics of the global market for Indian content.
“The Indian entertainment and content software has significant potential in the global village of today, and we will partner established networks to produce customized content on demand using our deep-rooted network in India,” Singh said.
“While Hindi and English content are the mainstays, we will also take the unchartered territories of creating content producers at the district level to promote regional content production.
‘In true spirit of “Skilling India”, we will impart audio visual content production training to our partner associates across the length and breadth of the country.”
Over the next three months, the JV company would establish its base in key Indian cities including the top eight metros, directly and through associates.
Simultaneously, the JV will forge alliances with global entertainment and developmental platforms across 12 key business centers the world over – in the Americas, Europe and the Far East.
Under the ambitious plans, the JV company will also set up content gathering and production training institutes across four regional hubs in India so as to train youth to generate low-cost saleable content.
SRam & MRam Kalam Media plans to train close to 5000 individuals under their Vision 2020. Using a hybrid collaborative, public-participation model, the JV aims to create over 3000 employment and self-employment opportunities within two years of its launch.
It also plans to make significant inroads in the NRI mind space through a dedicated portal, “For the Indians, by the Indians, of the Indians”, that would be powered with multi-platform apps in its second year.
This would enable SRam & MRam Kalam Media to target the 10 Million plus non-resident Indians who have a significant appetite for Indian diaspora.
The JV company aims to break-even in the third year of its launch scheduled in November 2016.
In the entire process of the JV, Capitico PRG would provide its services to both partners for a smooth running of operations.
Its role would primarily be to hold equity in the Indian entity, be part of the management group and manage financial aspects of the entire deal.