The Chennai-based GV Films in joint venture is
planning to set up an entertainment village Digipolis at Panvel in Raigad
district of Maharashtra. It would entail a total outlay of Rs.1,000 crore.
Nearly 60 per cent of the project will be
financed through debt, while the balance will be through equity.
The company is also planning to set up theme
parks in Gujarat and Tamil Nadu.
GV Films plans to raise Rs.125-150 crore through foreign
currency convertible issue. The proceeds will be used to part-finance the
company's equity contribution for Digipolis and the balance will be raise
from internal accruals and a proposed rights issue.