Global Middas Capital Music (GMC Music) valued at Rs 500 Cr (52 Million USD)
New Delhi [India], July 20: Global Middas Capital Music (GMC Music) has come out with an initial Equity Private Placement Offer to raise USD...
New Delhi [India], July 20: Global Middas Capital Music (GMC Music) has come out with an initial Equity Private Placement Offer to raise USD 11 Million (approx 100 Cr). The funds would be invested to build the music content library for the Indian & International Market. It will position GMC Music as one of the leading music production houses not only in India but internationally, with a diversified multilingual content library. Now with Multiple International Music Platforms and a digital boom, the GMC Music library will witness multifold monetization, driving strong fundamental growth in the business.
The business is valued at Rs 500 Cr (Approx 52 Million USD) with rich content concentrating on Indian regional languages with a focus on creating music labels and content including Bollywood Soundtracks, Indi-Pop/Pop Chartbusters, Devotional & Bhakti, etc. Along with mainstream Hindi, the music content creation library will include Punjabi, Kashmiri, Tamil, Telugu, Malayalam, Marathi, Bengali, Assamese, Gujarati, Bhojpuri, Kannada, Garhwali, and Kumaoni.
