There is a new positive development in the story of Phantom Films. In October 2018, Anurag Kashyap, Vikas Bahl, Vikramaditya Motwani and Madhu Mantena of Phantom Films decided not to work together. Anurag had tweeted, “And all dreams come to an end. We did our best and we succeeded and failed, but I am sure we are all stronger and wiser and will continue to achieve our dreams in our individual ways.” Now, Phantom Films has changed its shareholders. The shareholders are not completely alike and now Kashyap, Motwani and Bahl are seen officially exiting the company.
Madhu Mantena confirmed it
The shares of Kashyap, Motwani and Bahl, who otherwise held 12.5 per cent stake, have been bought by Madhu Mantena. Thereafter, Phantom Films will be a JV (joint venture) between Madhu Mantena’s new company Mad Men Ventures and Reliance Entertainment, with a 50 per cent stake between the two parties. Earlier, it was a JV between Madhu-Kashyap-Motwane-Bahl (50 per cent) and Reliance Entertainment (50 per cent).
So, how did all this happen? As per a reliable source, “One idea was that it was all over for Phantom Films as a brand, but Madhu had ideas to keep it alive. Madhu gets in touch with Kashyap, Motwane and Bahl and expresses interest to buy the stacks. All three agreed. The modalities were worked out expeditiously, the deal implemented and amicably completed.”
Established in 2013, Phantom Films has produced several films – Lootera, Queen, NH10, Bombay Velvet, Shaandaar, Manmarziyaan. Reliance Entertainment had taken 50 per cent of its stake in March 2015. Two years ago, Kashyap, Motwane, Behl and Mantena parted ways, leading to huge success of two Phantom Films projects – Super 30, Sacred Games. A Venture ’83 is yet to be released. All three were installed and closed before splitting.