The total size of the issue will be 50,04,800 equity shares, with a face value of Rs 5 per share. Ninety per cent of the shares will be offered through book building. The floor price for the issue has been fixed at Rs 50 per share.

Creative Eye will be using the public issue proceeds for the company's future activities. These include expansion of the post production studio, development of portals on the internet and procurement of film rights.The company produces programs for Doordarshan, Sony and Gemini TV. Creative Eye is well known for its mythological serials. ``We have produced Om Namah Shivay for Doordarshan which is one of our most popular serials,'' said Mr Kumar. On the anvil are eight serials that Creative Eye will produce for satellite channels. Mr Kumar did not divulge details on his company's tie-ups with the channels. Creative Eye is also planning a game show as part of its expansion plans.

Creative Eye was incorporated in 1986 and was registered as a public limited company in 1996. The market for television production today includes among others Shri Adhikari Brothers and Balaji Telefilms.

``By March 2001, we will be targeting a revenue of Rs 96 crore and a profit of Rs 9 crore,'' said Mr Kumar. According to him, Creative Eye is the only company that writes off 100 per cent of its production cost each year.According to Mr Kumar, the tie-up with Doordarshan over time has been a strategic decision. ``We currently contribute 10 per cent of Doordarshan's entertainment revenue,''he said. He added that large MNCs have been sponsoring his serials because of greater viewership on Doordarshan as compared to satellite channels.

In 1999, TCW/ICICI Ventures invested in Creative Eye as a private equity investor. After the issue, the group will own 56 per cent, TCW/ICICI will hold 14 per cent, public holding will be 27 per cent and the balance 3 per cent will be reserved for key employees.