Arjun Rampal, who got international pop icon Lady Gaga to perform in India last year, is collaborating with Percept Ltd to create a music festival in major cities, sources say. The ambitious venture is called Lost.

“Arjun and Shailendra Singh of Percept have brainstormed over months, working out the details of the music festival property. It will be modelled on the Glastonbury Festival in Somerset, UK. Artists and musicians of the stature of Elton John, U2, Madonna and Prince and Britney Spears and Rihanna are expected to come to India for the Lost festival,” said a source.

On why the festival came to be named Lost, the source commented by saying, “Because Arjun and Shailendra felt that music lovers in India need a platform where they are lost to gain a sense of musical liberation,” said the source.

Lost is expected to kickstart in the second half of the year. The music festival is being planned on a sprawling 30-acre stretch of land.

“Arjun and Percept want to create the largest most keenly-attended music festival in India. They start with the first concert in Mumbai and then proceed to have three festivals each year in different cities of the world…”

“The idea is to bring the best musical talents from the world to India. Arjun has already started creating a bank of potential performers. The success of the Gaga concert last year has truly encouraged Arjun. He feels it’s time India acquired a global image for cultural and musical events,” said the source.

The deal is expected to be officially announced next week.

Arjun and Singh remained unavailable for comment.