Saregama India to Acquire Bhansali Productions for INR 325 Crores

Saregama India Limited has approved the acquisition of Bhansali Productions Private Limited through the execution of an Investment Agreement, a Shareholders Agreement, a Music Rights Agreement, and other transaction-related documents. The acquisition, which involves the subscription of 9,960 compulsory convertible preference shares for a consideration of INR 325 Crores, is expected to strengthen Saregama's market position in the video segment and further consolidate its market leadership in the music licensing business. The acquisition will occur in multiple tranches, with the closing subject to satisfaction of customary conditions precedent and conditions subsequent.