Mumbai: Oscar award-winning sound designer Resul Pookutty, and Mahesh Ramanathan, COO of Reliance Entertainment who quit recently after an eight-year stint, have joined hands to launch Le Penta Entertainment, a film production and services company to make Hindi and regional films.
“My visit to the Cannes Film Festival last year made me understand how much the market has expanded, especially for content-driven films,” said the National Award and Padmashri recipient, who will be heading the venture. Raising the money is not a worry for Resul Pookutty who feels that the right venture backed by the right entrepreneurs will find investors.
“There is enough money circulating, especially for start-ups. Besides, we have huge interest from a major Hollywood studio who already have our term sheets, plans and proposals of films and the talent we are tying up for the same,” added Pookutty.
At the same time, the duo are also exploring startup funding with a target . 300 crore to begin with. The plan is of ` to make two-three A-list Hindi films while looking at regional movies as well. In fact, Malayalam superstar Mammootty is already on board for a project, confirmed Resul Pookutty.
Ramanathan, who joins Pookutty, is a management graduate from IIM-Ahmedabad and joined Reliance Entertainment in 2007. During his tenure, five films that Ramanathan produced or co-produced won National Awards of which only two were Hindi (Paa and Well Done Abba); the rest were regional ones, including a Swarna Kamal from the President of India for Malayalam film Kutty Srank.
“With his experience, Mahesh will head the business and sales and will build on synergies as well as help us in raising funds. We are a team of five, who are spearheading Le Penta,” added Pookutty.