Elder's Anuj Saxena acquires 51 per cent stake in Sankranti

Mumbai, Oct 5 (UNI) Maverick Productions Ltd, promoted by Dr Anuj Saxena, MD, Elder Healthcare Ltd, part of the Rs 500 crore Elder group (flagship company, Elder Pharmaceuticals Ltd) has acquired 51 per cent stake in the equity of Sankranti Creations, a mid-sized animation company based in Mumbai.

Maverick is engaged in films and TV serial production, production of commercials, game shows, documentaries etc. Sankranti Creations is a one year old company, which is in the business of film restoration, colour correction and animation.

Dr Saxena said in release issued here today that the Indian animation sector comprising films, serials, documentaries, commercials, computer games is set to boom not only due to outsourcing by foreign companies but also due to massive demand from within the country.

With the take over by Maverick, Sankranti plans to set up a large production studio with state-of-the-art equipment and hardware and software like SGI, 3DMax and SoftImage, SFX and processing motion capture facilities, he added.

Maverick shall infuse Rs 20 crore initially to upgrade Sankranti and will also increase its staff strength from the current 35 to about 75. Maverick has also ventured into production of South Indian films in Tamil and Telugu languages by tying up with Vision Technology India Ltd. To Maverick's credit are scores of commercials, a game show called 'Khilari No 1' on Zee Smile with a soap, a cricket based show and documentaries under production. Maverick has also announced that it shall be producing at least two feature films during the current year.

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