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Shibashish Sarkar’s IMAC Raises $200 Million IPO, Lists on NASDAQ

admin   July 29, 2021

International Media Acquisition Corp, the special purpose acquisition company (SPAC) founded by Shibasish Sarkar, with eminent entertainment industry members on board has raised $200 million offering 20 million units at $10 through an initial public offering and lists on the Nasdaq under the symbol IMAQU.

The North Brunswick, NJ-based company aims to acquire its target in the next 12-18 months with a special emphasis on Indian media and entertainment sector, with a focus on North America, Europe, and Asia (minus China). It intends to focus specifically on companies that are positioned to benefit directly from the growth of digitally available content.

The company is led by CEO and Chairman Shibasish Sarkar, the Group CEO of Reliance Entertainment, and CFO Vishwas Joshi, who most recently served as executive director and head of studio finance at Walt Disney Company India. IMAC’s board of directors includes Sanjay Wadhwa, managing director of AP International Group, one of the biggest Indian regional-language IP owners, former co-head of CAA’s global client strategy department David Taghioff, Greg Silverman, current head of Stampede Ventures, and former president of creative development and worldwide production at Warner Bros. Pictures, noted U.S. businessman Paul Pelosi Jr. and Suresh Ramamurthi, chairman of CBW Bank.

IMAC is said to be backed by India’s most powerful and influencing entertainment producers, industry leaders, creative talents and studios. The big league reportedly backing the IMAC venture includes Bhushan Kumar of T Series, the Mumbai Movie Studio, Supriya Yarlagadda of Annapurna Studios, B.V.S.N. Prasad’s Sri Venkateswara Cine Chitra, S. Shashikant’s Y Not Studios, Deepa Tracy’s Storiculture, Vishwa Prasad of People Media and Syed Taher Ali’s Taher Cine Tekniq, filmmakers Mani Ratnam, Rohit Shetty, Imtiaz Ali, Luv Ranjan, Neeraj Pandey and actor Vidyut Jammwal.

According to sources familiar with the matter, other supporters of the venture reportedly include producers and media conglomerates such as Bhushan Kumar of film and music studio T-Series, actor-producer Ajay Devgn, the Mumbai Movie Studio, Supriya Yarlagadda of Annapurna Studios, B.V.S.N. Prasad’s Sri Venkateswara Cine Chitra, S. Shashikant’s Y Not Studios, Deepa Tracy’s Storiculture, Vishwa Prasad of People Media and Syed Taher Ali’s Taher Cine Tekniq.

Developing story and will be updated

Goa a hot Favourite for Filmmakers

admin   November 20, 2018

For the past 14 years, Goa has been providing a common platform through IFFI to the best of global filmmakers to project their excellence in film craft, thus contributing immensely to the appreciation of film cultures of different nations and promoting the culture of peace, harmony and partnership

The State of Goa has been successfully organising the International Film Festival of India for fourteen years and has evolved completely as a filmmaking centre, says National Award winning filmmaker Rajendra Talak who is also the vice-chairman of the Entertainment Society of Goa (ESG). “We are producing more local films than ever before. The film society and cinephile in Goa is on the surge.”

Rajendra Talak says Goa has now transformed into a film friendly state with the state’s film loving people embracing film culture. “We have over 3,000 local delegates registering for IFFI from the total of 7,000 registrations. It is amazing.”  In addition to managing IFFI, ESG runs film-friendly programmes in the form of film clubs; screening of National Award winning films and region focused films across the year. ESG has also brought out a Goa Film Fraternity Directory capturing every film professional in the state.

Entertainment Society of Goa

Aiming for another successful execution of IFFI which is in its 49th Edition, ESG is the nodal agency for organsing and providing leadership in logistics. Rajendra Talak is looking ahead for IFFI secretarial to be housed permanently in Goa. “We are also excited that IFFI will be marching towards celebrating its 50th Golden Anniversary in 2019,” states Rajendra Talak.

Going forward, ESG’s aim is to create an IFFI Complex and infrastructure on par with global festive venues, he avers.

With an industry-friendly state policy facilitating permissions and time-bound clearances for film shoots, Goa is a hot favourite for Indian filmmakers. “The film shoots in Goa is on the rise. Filmmakers like Rohit Shetty have shot almost all their films here. We also provide the best film shooting services,” says Rajendra Talak. “We have not had many international films but lot of domestic films are shot in the state.”

The Dabolim airport operates both domestic and international flights. One can reach Goa by rail, road or air from Mumbai, Bangalore, Delhi, Chennai, Hyderabad and Kochi. “This is the biggest attraction whether they are tourists, film shoots or festival delegates,” he says.