(U Me Aur Hum Crashes in U.S. - Down 73.3%) 

Compared to other high profile recent Bollywood movies, U Me Aur Hum, Ajay Devgan’s crude lift of Hollywood movie The Notebook, has fared badly at the U.S. box office.

In its opening weekend (April 11-13),  U Me Aur Hum grossed a mere $642,923.

Jodhaa Akbar (Hrithik Roshan-Aishwarya Rai), Om Shanti Om (Shahrukh Khan-Deepika Padukone) and even Race (starring a bunch of B-Grade Bollywood actors) did much better than U Me Aur Hum.

Let’s compare U Me Aur Hum with a few recent Bollywood movies like Race, Jodhaa Akbar and Om Shanti Om.

In their opening weekends, Jodhaa Akbar grossed $1.3 million, Om Shanti Om grossed $1.76 million while Race grossed $802,254.

In the opening weekend at the U.S. box office, Om Shanti Om debuted at No-11, Jodhaa Akbar at No-19, Race was No-18 while U Me Aur Hum came in at No-19.

Released in 89 theaters in the U.S., U Me Aur Hum Continue Reading…

Internet and e-commerce services provider Sify Technologies plans to raise $57 million through sale of 12.81 million Indian equity shares to Infinity Satcom Universal Private Limited at a price of $4.46 per share.

The aggregate proceeds of $57 million from this sale, according to Sify, would be used to fund the company’s growth and development.

Infinity Satcom Universal Private Limited is an Indian entity controlled by Ananda Raju Vegesna an Executive Director of Sify Technologies and also brother of Sify’s MD and CEO Raju Vegesna.

Sify’s shareholders approved the share purchase by Infinity Satcom Universal Private Limited at an extraordinary general meeting on March 17, 2008.

Sify said the shares were sold to Infinity Satcom Universal Private Limited in an offshore transaction and no selling efforts were made in the U.S.

Sify said in a statement that “the purchased shares will not be registered in the United States and will not be traded in the United States as American Depositary Shares.”