Harman Baweja, known for his acting career that began nearly two decades ago, is steering his focus towards the corporate realm with Baweja Studios, set to go public on January 29. Despite a recent acting comeback in the Netflix web series “Scoop,” Baweja has shifted his priorities from acting to the business world, particularly the upcoming public issue and growth of Baweja Studios.
What to know? As detailed in a MoneyControl report, Baweja Studios, which has been producing films since 1992, has recently branched out into digital content and animation. “We have diversified our verticals… into digital – web series, direct-to-digital films, and animation, which is an under-exposed vertical,” said Baweja, the managing director. The studio aims to increase revenue from animation, currently contributing 25% to the overall business.
The company is working on several projects, including a large animation superhero project and a live animation project. “We have multiple web series lined up for this year… However, films will continue to have a larger share of the pie in the near future,” Baweja added.
Baweja Studios boasts titles like “Bhaukaal,” “Diljale,” “Dilwale,” and animated content such as “Chaar Sahibzaade” and “Super V,” in collaboration with cricketer Virat Kohli. “We have seven productions lined up this year across films, series, and animation content,” Baweja revealed.
Why go the IPO route? The IPO proceeds will be used for content development, including a repository of scripts and rights at various development stages. Baweja highlighted the company’s growth and readiness for the IPO, a long-considered move. Despite a dip in net profit due to COVID-19, the company bounced back last financial year, exceeding pre-COVID levels with a net profit of ₹7.96 crore and significant revenue growth.
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