| DE Shaw, one the largest global providers of alternative assets, is investing close to $60 million (Rs 240 crore) in Gemini Industries and Imaging, Chennai, one of the oldest media houses in the country. |
| The Gemini Group has its interests in film production, equipment hiring and lab processing for the motion picture business. |
| The group has over 75 per cent market share in the equipment hiring business and over 50 per cent market share in the processing lab business for motion picture across Tamil, Telugu and Malayalam film industries. |
| However, when contacted Anil Chawla, CEO, DE Shaw India declined to comment on the issue. |
| The Gemini group equipped with this equity infusion, plans to set up the exhibition business in Tamil Nadu and Andhra Pradesh over the next 24 months. |
| The first of 11 multiplex screens will kick start their operations by the end of 1st quarter of 2008 in Chennai. By 2011 they are expected to control over 300 screens. |
| Unlike the existing companies in the distribution business, Gemini will be the only integrated film company in the country with infrastructure across the value chain. |
| They plans to produce 26 movies every year by 2010-11 so that they would be in a position to release a new movie every fortnight on their own screens. |
| DE Shaw Group has been active in India for over a decade and has over 600 employees in its Hyderabad and Delhi offices. The company has over $1.25 billion in capital exposure to the Indian markets as of November 2007. |
| The DE Shaw Group has already made investments in various sectors in India and has participated in a number of real estate investments in India. It has invested $400 million in DLF SEZ. |
| Apart from this, the firm has also invested in the media space in Crest Communication and Amar Ujala. The current total investment in India including FCCBs is over $1 billion. The DE Shaw Group is a registered FII in India. |
Source: Business Standard