Top header Banner
Top header Banner
Middle top Banner

Reliance to acquire 25% stake in Ekta Kapoor’s Balaji Telefilms

Mukesh Ambani’s Reliance Industries Limited has acquired a 24.92 per cent minority stake in India’s leading TV production giant, Balaji Telefilms worth around Rs. 413.28 crore.

A statement from Balaji Telefilms said, “This transaction marks a landmark event for the Indian OTT industry and is expected to further accelerate the growing trend of media consumption on the go.”

The fresh investment will give Balaji Telefilms’ recently launched OTT service provider, ALT Balaji a further push amongst its rivals such as Hotstar, Netflix, Amazon Prime Video and VOOT.

Balaji Telefilms chairman Jeetendra Kapoor said, “We welcome Reliance Industries Ltd as a partner in our growth journey towards becoming the preferred content producer for the Indian diaspora across all means of video consumption and across all geographies. This investment is a vote of confidence to the company’s strategic move to own our IP and our viewers. I would like to congratulate Ekta and the entire Balaji team on this early success, and am sure that they will continue to take the company forward from strength to strength. I would also like to thank Axis Capital for its valuable and unwavering support over the years. They have visualised and facilitated this important investment which will help us become one of the leading content players globally.”