PNC shares zoom 5% on Sholay deal
Shares of Pritish Nandy Communications zoomed nearly 5 per cent to Rs 88 on the company confirming that it has signed a deal with Sholay Media & Entertainment to officially remake Sholay.
The production house will not only remake Sholay, but also do an animated version of the original film, and then a prequel and a sequel. The massive $100-million deal is slated to be one of the biggest agreements in Bollywood.
Sholay is the highest grossing Indian film of all times and has earned over Rs 236.45 crore. Sholay racked up a record 60 golden jubilees across India and doubled its original gross over subsequent reruns.
The company and Sholay Media and Entertainment have agreed to work together to jointly develop the Sholay franchise worldwide. While production on the animation version of Sholay will commence soon, the official remake is scheduled to go into pre-production before the end of the year.