Growing up

SUBHASH GHAI is all smiles these days—and with good reason. Mukta Arts, his movie production company, has just closed the first-ever public offering of shares by a big firm from Bollywood, the name for the Hindi movie industry located around Mumbai (Bombay). As investors pore over the volatile cash flows of his firm, Mr Ghai is fired by the idea of building a Hollywood-style studio that hires and trains Indian movie directors, writers and technicians. Bollywood, he says, must get corporate.