Pritish Nandy Communications (PNC), which signed an agreement estimated at a hefty $100 million with the Sippy family for the rights to remake the 1975 cult Hindi classic Sholay, has begun preliminary talks with Hollywood studios for a possible partnership. The company may also set up a special purpose vehicle (SPV) to raise funds for the project.
The first SPV of its kind in the Indian film industry, it would be an umbrella for the four film projects that are part of the deal: the remake, a sequel, a prequel, and an animated version. The remake, with a preliminary budget of Rs 100 crore, is set to be the costliest Indian film ever, ahead of the Rs 60-crore Shah Rukh Khan starrer Devdas, directed by Sanjay Leela Bhansali.
PNC chairman Pritish Nandy says the contours of the project and its funding were still being worked out. However, the possibility of spinning off an SPV to secure easier funding was under consideration. Hollywood studios apart, investors had also approached PNC after it struck the deal. ?Rs 100 crore may be huge for India, but is modest by Hollywood standards,? says Nandy.
?We are aiming to remake Sholay on a size and spectacle of Lord of the Rings or the Matrix trilogy, and we?ll go out and raise more money if necessary. The equity and debt parts are being worked out,? he says, adding, ?We are working on the creatives and costing; casting will come after the blueprint is ready, hopefully by the end of the year. We intend to start work on the film by early next year.?
Each of the films is expected to cost around Rs 100 crore, taking the total tally to Rs 400 crore or thereabouts. Besides, there will be other spin-offs like games and merchandising. ?These are going to be very big movies, without a doubt,? Nandy says.
PNC may retain the music of the original and adapt large chunks of the screenplay?Sholay?s biggest draws. But Nandy will not be drawn into conjecture about the director (?I have a few in mind?) or the cast. Will the original Sholay setting be retained? ?No. We will base it in the cities, but retain the revenge plot, of course. Who knows, we may name Gabbar Singh, Mr G Singh and make him wear a suit!? he says.