Through mergers and joint ventures, the company is also evaluating the option of bringing in production expertise and finance to form a new company before going in for an IPO, says Triton Communications director AY Merchant.The funds raised will be deployed towards expansion work chalked out by the company. Viking is expanding its business from being just a marketing company to producing mega television serials and feature films.

Viking is already marketing the serial Shaktimaan in a big way. It is the co-producer of the television serial `Raja Ka Baja' coming from the home production of the director Saeed Mirza (of Nukkad fame). The company is now working towards making an animation series of the Shaktimaan character which will be a Viking production venture.

The pilot episode is expected to be completed in June, 2000 and the series to begin telecast in September 2000. The company is working towards making it in regional languages too.

For the purpose, it is negotiating tie-ups with television channels like Doordarshan, Sony and Zee. To give it an international appeal, the character is being positioned as a yogic super hero and not an Indian hero, says Viking's vice-president Akshay Vyas.

The idea is, says Vyas, not to restrict to the domestic market but also look at the overseas market. The company is looking at producing a lot of mega soaps with an international appeal in the coming months. Viking will also be looking at merchandising in a major way to bring revenues.

With all this and more, the company is looking at bringing in 30 per cent of revenues from airtime sales, 30-40 per cent from production and balance from unknown activities.