Saregama India Ltd to Acquire 100% Equity Share Capital of Finnet Media Private Limited for INR 8,69,67,750

Saregama India Ltd has approved the acquisition of 100% equity share capital of Finnet Media Private Limited for a total consideration of INR 8,69,67,750. Finnet Media Private Limited is a company incorporated under the Companies Act, 2013, engaged in the business of media and entertainment. The acquisition is expected to generate operational synergies, broaden market reach, and reinforce the position of Pocket Aces in influencer management. The closing of the Transaction is subject to satisfaction of customary conditions precedent and conditions subsequent as per the Transaction Agreements. Upon completion of 2 (Two) years, post the acquisition of the said 100% equity share capital of Finnet Media Private Limited, Pocket Aces will also acquire 2,88,235 (Two Lakh Eighty-Eight Thousand Two Hundred and Thirty-Five only) Optionally Convertible Preference Shares.