According to a report, Mumbai-based entertainment company UTV Software Communications has planned to transfer its motion picture business into an overseas subsidiary. The company has decided to take this step to get listed in the London Stock Exchange’s Alternative Investment Market.

The board member took this decision after a meeting and later, a notification sent to the Mumbai Stock Exchange regarding this development also.

The UTV Software Communications Ltd. has its networks of business in four core areas such as television, new media, gaming and postproduction/special visual effects.

UTV chairman Ronnie Screwvala said that the company has been matured and the movie studio business has got the leadership position both in South Asia and globally.

Now, the company has decided to unlock value for our shareholders.

He said further that the company believes that international investors on overseas stock exchanges would understand such a mature model better.

However, Screwvala did not disclose about the amount he has planned to generate from the proposed AIM listing or UTV Motion Pictures’ valuation. UTV has estimated that Indian film business will get more than 50% of its film revenue from international markets.

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