Vistaar Religare to finance four films by Jan

New Delhi: Vistaar Religare, a subsidiary of Religare Enterprises, is planning to finance four films by January 2010, entailing an investment of about Rs 90 crore."We would be signing deals for financing four films by January 2010. The deals would be worth about Rs 85-90 crore," Vistaar Religare Managing Director Sheetal Talwar told reporters.

"While three of them will be Bollywood releases, one would be a Hollywood movie. Deal for one film is expected to be signed in a week`s time," he added. The Vistaar Religare Film Fund, which received market regulator Sebi`s approval last year, was set up with a corpus of Rs 200 crore for investing in movies. Vistaar Religare has already signed deals for financing 13 films, entailing a total investment of Rs 112 crore. It is now aiming to provide investors a 30-35 per cent return. "Over the five year period, we are aiming to provide investors with consistent returns. We are targeting a return of 30-35 per cent a year," Talwar said. "Film fund allows investors to distribute their holdings among various asset classes to hedge their risks," he added. When asked about the film releases, Talwar said: "We have lined up 12 releases by the end of 2010. The fund would look at providing consistent returns to investors by prudently lowering the cost of investment," he added.Vistaar Religare currently has nine projects on floor, in various stages of production. Four of its financed films which are due for release in 2010 are Rann, Office Office, Happi, besides Hollywood release Demi Moore starring `The Joneses`. Last year, Religare Enterprises launced the Vistaar Religare Film Fund in association with film production company Vistaar Entertainment Ventures. Religare holds 76 percent in the Fund, while the rest is with Vistaar Entertainment Ventures. PTI