Fundviser Capital (India) Ltd is a publicly listed investment holding company that hunts for unique opportunities across unrelated sectors, from container cinemas to a prime real estate play in Mumbai. It was born from the ashes of a dye-intermediates factory, sold off in FY 2015-16, and was later renamed and reshaped into a finance and investment vehicle. The recurring approach is to take controlling stakes in small, early-stage ventures - a cinema startup, a trading firm, a real estate partnership - and then use the parent company’s listed platform to fund them, all while managing a portfolio of listed shares and bonds. # Business segments Five engines at different stages - a portfolio of listed securities and bonds, two majority-owned operating subsidiaries in niche media and trading, a partnership in a high-stakes real estate project, and a newly acquired overseas trading outpost - each seeded with the parent company’s capital. ## 1. Investment portfolio: the group’s financial core **The company runs a single, internally managed portfolio of listed shares, private company stakes, and interest-bearing deposits, which generates income from dividends, trading gains, and interest.** - **Interest income is a steady leg** - the company earns interest on fixed deposits with banks, inter-corporate deposits, and bonds, which is accounted for as it accrues, providing a base layer of income regardless of stock market swings. - **The portfolio has been built from scratch** - as recently as FY21, the company held no quoted equity at all, only bonds and bank deposits; by FY22, it had built a quoted equity portfolio across 42 listed companies, showing a deliberate shift toward market-linked assets. ## 2. Starlight Box Theatres: container cinemas and film content **A majority-owned subsidiary that builds cinemas inside shipping containers instead of brick-and-mortar structures, and also buys and consults on film content.** - **Cinemas in a box, not a building** - the company makes container box cinema theatres, which can be deployed far faster than a traditional cinema that takes two to three years to construct, and it already operates one successful theatre in Devgad, Maharashtra. - **Paid to teach others how to do it** - in August 2024, its subsidiary Starlight Box Theatres Private Limited won an order from a Pune-based firm to provide consultancy, technical knowhow, and handholding to commission 32 container theatres under the “Starlight” brand, earning a fee of ₹25 lakh per theatre, or ₹8 crore in total. - **A tax-shielded startup** - the subsidiary has been recognised by DPIIT as a media and entertainment startup, which qualifies it for a three-year tax holiday under Section 80IAC of the Income Tax Act. - **Content is the other half** - beyond the theatres themselves, the company invests in producing feature films and buying perpetual rights to regional films that are near completion, giving it a stake in what gets shown on screen. ## 3. DARS Transtrade: trading and logistics **A majority-owned subsidiary that operates in trading and logistics, though its specific operations are not detailed in the filings.** - **A renamed and repurposed entity** - the subsidiary was formerly known as V3 Constructions Private Limited before being acquired and redirected into trading and logistics, with the parent holding a 51.61% stake. - **A material unquoted bet** - the parent’s investment in DARS Transtrade was valued at over ₹4 crore as of March 2025, making it one of the larger unquoted positions in the portfolio. ## 4. New India RE & Infra: the Worli real estate play **A partnership in which the company holds a 64% capital contribution, developing a high-value real estate project on a four-acre plot in Mumbai’s Worli Sea Face area.** - **A project with a ₹3,000-crore top line ambition** - the estimated project cost is around ₹1,500 to ₹2,000 crore, with a revenue potential of more than ₹3,000 crore, making it by far the largest asset the company is connected to. - **Financing is a patchwork of equity and debt** - the project is expected to be funded through a mix of the promoters’ own equity, a joint venture partner or private equity fund, and construction finance, meaning the company’s capital is only one piece of the puzzle. - **A tiny book value for a giant project** - the company’s partnership interest in the LLP was valued at just ₹64,000 on its books as of March 2025, reflecting the early stage of the venture and the fact that most of the capital has yet to be called. ## 5. Silver Sage Trading: a UAE general trading outpost **A wholly owned foreign subsidiary in the UAE, acquired in early FY26, that trades in consumer household goods, industrial products, and commodities.** - **Bought, not built** - the company acquired a 100% stake in Silver Sage Trading LLC, a single-owner limited liability company already incorporated under UAE law, which came with a readymade market and existing customers. - **A broad trading licence** - its commercial register permits general trading including commodities, metals scrap, and electronics, giving it wide latitude to buy and sell across categories. - **A ₹2.5 crore entry ticket** - the actual investment, including the takeover of existing stocks, is approximately ₹2.5 crore, a relatively small sum for a foothold in a new geography. # Group structure and partners **The company is a holding company with no parent, controlled by a father-daughter promoter duo who acquired it in 2023, and it operates through three Indian subsidiaries and one UAE subsidiary.** - **A clean holding structure** - the company is not a subsidiary of any other entity and directly holds majority stakes in Starlight Box Theatres (51.12%), DARS Transtrade (51.61%), and a 64% capital contribution in New India RE & Infra LLP, plus a 100% stake in UAE-based Silver Sage Trading LLC acquired in FY26. - **Control changed hands in 2023** - Mr. Sohan Lal Garg, a chartered accountant with three decades in home décor manufacturing, and his daughter Mrs. Kriti Jain, a NIFT-trained fashion management graduate, bought a 53.12% stake from the previous promoters for about ₹3.53 crore and took control in October 2023. - **The old guard exited completely** - the erstwhile promoters ceased to be promoters by December 2023 and hold no equity shares or other interest in the company, making it a clean break from the past. - **The board was rebuilt with family and experience** - following the takeover, Mrs. Kriti Jain joined as a Non-Executive Director and her father-in-law, Mr. Premkrishan Jain, a former Indian Police Service officer with over 40 years of experience, was appointed as the Whole Time Director.