Saregama India Ltd Acquires Bhansali Productions for INR 325 Crore
Filing Summary
Saregama India Limited has announced the acquisition of Bhansali Productions Private Limited, a media and entertainment company, for a total consideration of INR 325 Crore. The acquisition involves the subscription of 9,960 compulsory convertible preference shares and further equity securities in multiple tranches. The transaction aims to expand Saregama’s presence in the video segment and consolidate its music licensing business. The acquisition process is expected to be completed by March 2030, subject to customary conditions. The transaction does not fall under related party transactions and involves cash consideration.
Saregama India Limited has informed the exchange about its acquisition of Bhansali Productions Private Limited. The acquisition involves the subscription of 9,960 compulsory convertible preference shares (CCPS) for a consideration of INR 325 Crore. The transaction includes further acquisition of additional equity securities in multiple tranches. The Board of Directors approved the execution of the Investment Agreement, Shareholders Agreement, and Music Rights Agreement on 16th December 2025.
The financial terms of the acquisition include a cash consideration for the subscription of CCPS. The total consideration for the initial subscription is INR 325 Crore. The subsequent acquisition of equity securities to maintain a minimum shareholding of 28% and potentially increase to 51% will be determined based on the mechanisms outlined in the transaction agreements. The transaction does not fall within the ambit of related party transactions.
The operational scope of the acquisition includes the strategic investment in Bhansali Productions to enhance Saregama’s market position in the video segment and consolidate its leadership in the music licensing business. The Music Rights Agreement grants Saregama ownership of all music rights created and produced by Bhansali Productions. This acquisition aligns with Saregama’s strategy to expand its presence in the media and entertainment industry.
The timeline for the acquisition involves multiple phases. The subscription of CCPS is expected to be completed by February 14, 2026. The conversion of CCPS and further equity subscription to maintain a 28% shareholding is scheduled within 60 days of finalizing the audited financial statements for the period ending September 2028. The option to acquire up to 51% shareholding is expected within 60 days of finalizing the financial statements for the year ending March 2030.
The parties involved in the transaction include Saregama India Limited, Bhansali Productions Private Limited, and Sanjay Navin Bhansali. Saregama will acquire shares in Bhansali Productions, which is engaged in media and entertainment, including the creation and distribution of long-form content such as feature films and music. Sanjay Navin Bhansali is the director and promoter of Bhansali Productions.
Bhansali Productions, incorporated on May 8, 2003, operates in the media and entertainment industry in India. The company has produced notable films and music content. The turnover for the financial year ending March 31, 2025, was INR 304 Crore. The acquisition will provide Saregama access to new music content through the rights in the Music Rights Agreement.
Saregama India Limited is a leading music label and content producer in India. The company focuses on expanding its presence in the media and entertainment sector, leveraging strategic acquisitions to enhance its market position in music licensing and video content. Saregama continues to explore opportunities to strengthen its portfolio and market reach.