Just noticed that apart from the film business, Company is also into film studio, entertainment zone, amusement park, etc.. through its wholly owned subsidiary. As per the offer document, they even have agreement with 'Endemol' for BIG BOSS shooting !!
Promoter Dr. Ishari Kadhirvelan Ganesh failed to disclose that IN THE HON’BLE HIGH COURT OF GUJARAT AT AHMEDABAD DISTRICT: GANDHINAGAR MISC. CIVIL APPLICATION NO. 103 OF 2023 FOR CONTEMPT against himself and his wife Dr. Arthi Ganesh who is also a Director in Vels Film International Ltd
Compliant submitted to SEBI The Registration Details are SEBIE/TN23/0000153/1 of SEBI complaint
South is giving very successful films in past. It threatened Hindi film industry also. This is from South Indian promoters dealing in producing and other film related matters. Size of the SME is big and expensive also. Borrowings are more which requires for film making. But success of the film is not certain. In such circumstances it is better to skip this SME. Many more will come and if doesn't come, it makes no difference. Money saved is money earned. I believe in applying in valuable SMEs, that's why I have not got any SME allotment in more than five years of time. Thinking, better LUCK next time.
Ishari K Ganesh's best friend is Deepti Balagiri (owner of GV Films). Same pump and dump scheme as GV films, at the end of the day this share will also become of Rs.1. Google GV Films and then take a decision to apply or not.
Promotor's main business is colleges and not this. Vels Film has not even produced any profitable films in the past 3 years.
Stay away.
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March 9, 2023 11:10:30 PM
IPO Guru (1000+ Posts, 500+ Likes)
I feel the same,all his movies are ok or bad only but he gives success meet for all his movies.
Engineering Colleges has always been a big business in tamilnadu, like even people from other states come here to study paying capitation fees (in cash). Unfortunate for the owners, education is a non profit organisation so most of the people who run school or colleges spend the money for their own benefits before they die. Some intelligent people with the help of bad CA's do this kind of siphoning of funds from colleges to other businesses. same promotor of gv creates more suspicion.
film industry is on rise after popularization of OTT platforms. but this company is bringing ipo at very high valuations. will only observe this. not applying or buying.