Marketing through films is common, but it does not always work. That is what happened when Indira IVF supported a biopic about its founder, Dr Ajay Murdia. The film, Tumko Meri Kasam, failed at the box office.
But the bigger problem came when it ruined the company’s ambitious Rs 3500 crore IPO.
A Rs 65 Lakh Bollywood Film That Sank Rs 3500 Cr IPO
Directed by Vikram Bhatt, Tumko Meri Kasam hit cinemas on March 21. The film starred Anupam Kher, Adah Sharma, Esha Deol, and Ishwak Singh and showcased Dr Murdia’s journey in mainstreaming IVF treatments. It highlighted his legal battles and efforts to make fertility treatments accessible.
Despite an experienced cast, the film failed to impress. Critics gave it mixed to negative reviews, with many praising Kher’s performance but calling the film uninspiring. At the box office, the numbers were brutal. It earned just Rs 65 lakh before disappearing from theatres after its opening weekend.
Insiders speculated that the film was never about ticket sales. Many believed it was a strategic move to enhance Indira IVF’s brand image ahead of its Rs 3500 crore initial public offering (IPO). The company was set to go public, and the movie’s release was seen as a promotional stunt to boost credibility and goodwill.
SEBI Flagged The Film As A Potential Marketing Tool
The plan backfired when the Securities and Exchange Board of India (SEBI) took notice. According to reports from the Economic Times, SEBI flagged the film as a potential marketing tool meant to influence investors. The timing raised eyebrows, as the company was in the final stages of raising funds for its IPO. The fact that the film’s producers included Dr Murdia’s sons (Nitiz and Kshitiz) only fuelled concerns.
On March 27, Indira IVF pulled back its IPO plans. The company later denied SEBI’s claims, insisting that its decision to withdraw was based on “evaluation of various factors and commercial considerations.” However, the damage was done. A failed film had cost the company its multi-crore IPO dreams.
Indira IVF has not confirmed if it will revisit its IPO plans. But this episode serves as a cautionary tale. Using films for business gains is not new, but when regulatory bodies get involved, the risks can be huge. For Indira IVF, what was meant to be a grand marketing move turned into an expensive mistake.
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