MUMBAI: Indian media companies are finding Dubai a hot destination. After Zee Telefilms and Mukta Arts, it is the turn of K Sera Sera Productions which is setting up a wholly owned subsidiary.

"We are in the process of establishing our outfit in Dubai Media City. It will take us three months to set it up. There are opportunities for television and film production there. We are in the process of identifying the projects," says a senior executive in the company.

The subsidiary company, K Sera Sera Productions FZ-LLC will carry on the activities of movie and TV production. The other areas include distribution, pre-production, film and TV rights management, and film and TV post production.

Monesh Manghnani has been appointed as the director, manager and negotiator for the K Sera Sera Productions FZ-LLC. The authorised and issued share capital of the company is AED 50000 divided into 50 shares of AED 1000 each, the company said.

Meanwhile, K Sera Sera has fixed Rs 68 per equity share for the public issue, subject to necessary approvals and provisions. The price band offered to the public was fixed between Rs 64 to Rs 70 per equity share.

The board of directors, which met today, passed the resolution for the issue price for K Sera Sera's 100 per cent book building public issue of 50,00,000 equity shares of Rs 10 each, the company informed the BSE.