India-based animation company DQ Entertainment (DQE) has announced that the company has raised USD 56 million via its listing on the Alternative Investment Market of the London Stock Exchange (LSE).

The firm has become the first Indian animation company to be listed on the LSE.

According to the release, the company will use the funds to expand its production houses in India, world-wide sales and distribution network, global partnerships, immediate European acquisitions and joint ventures.

Tapaas Chakravarti, Chairman DQ Entertainment, said, "The AIM listing will assist the company to keep pace with the growth challenges and manage it well. DQE aims to expand into the global animation market through an extension of its product line including co-production/IP rights. ”

The company has recently entered the home video market along with Moser Baer for distribution of their animation series 'Pet Pals' and 'Ratman' in collaboration with Gruppo Alcuni and Stranemani of Italy.

The company also has signed co-production deals with U. S.-based Marvel Comics to work on the popular "Iron Man" series.

DQ Entertainment has current order book worth $ 94.6 million. The company is working on 40 projects at various stages of production over the next three years. The company's client list includes BBC, Walt Disney Television Animation, American Greetings, Sony and Method Films & Moonscoop groups of France.