Mumbai, April 10: ICC, a part of the PK Chatterjee-Soros group of USA, has picked up a three per cent equity stake in StarYaKalakaar.com Ltd for an undisclosed amount. The Mumbai-based company is expecting 75,000 registrations across various segments of talent.The company, which is promoting the country's first talent and entertainment vortal - StarYaKalaakar.com - is planning to set up representative offices in Dubai, London and New York to cater to the NRI segment. Regional offices are being set up in New Delhi, Calcutta, Ahmedabad, Hyderabad and Chennai shortly.
The company, which is expecting a valuation of $50 to $55 million for its Website shortly, is planning to further offload another five per cent stake to raise funds. At present, the company has an equity-base of about Rs 10 crore.
StarYaKalakaar.com chairman and chief executive officer Amin Merchant told The Financial Express that the firm was estimating to report a revenue of Rs 8 to Rs 10 crore by the end of the current financial year. Apart from revenues from registrants, StarYaKalakaar expects revenue from advertisements, sponsorships, talent promotions, talent management, both in cyberspace and at the ground level.
"The site will help producers meet their financial economies so that all segments of talent related to the production of any kind of entertainment is available," he added.
The company is not planning an initial public offering for the time being, says Merchant.
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