Sanra Software plans to raise $28 Mn through GDR
Chennai: With a view to fund its expansion plans, animation firm Sanra Software plans to raise $28 million next month via GDRs/AD Sanra Software was founded two years back by acquiring Chennai based Pixaalaya studios. "While $10-15 million will be spent on developing IP content, the rest will be used for setting up academies that will train people in animation and gaming," said A Venkatramani, Sanra Software chairman. He added that depending on the market conditions, the company might also opt for private placement instead of GDR issue. Currently, in Sanra Software, 55 percent is owned by the public and the remaining by the promoters. The company has a center in Chennai, offering courses in media technologies. "The courses at the center here are for internal use. But the academies will cater to a wider segment," said Sukumar Subramanian, CEO, Sanra Software. Sanra plans to open at least 50 such academies this year and is also planning e-learning modules. The company earlier signed a MoU with the University of Portsmouth, UK to offer courses in areas such as animation, film and broadcasting, interior design and creative technologies.