Hyderabad, Dec 21: DQ Entertainment Ltd, one of the leading animation and game art/FMV group, has raised funds to the tune of US Dollar 56 million, through its listing on the Alternative Investment Market (AIM), London Stock Exchange.
According to a press release, the funds raised would be primarily used for DQE's expansion of several production facilities in India and to increase sales and distribution network worldwide. The funds would also be used to co-invest in IPR's global partnerships and for immediate European acquisitions and joint ventures, it added.
DQE CMD and CEO Tapaas Chakravarti said, ''the global animation and gaming industry is growing over 10 per cent CAGR. We are ideally placed to exploit immense national and international market opportunities with our proven track record of highest quality, creative talents and comprehensive international partnership for iconic branded IP co-productions.''