Saregama India announced that its subsidiary, Pocket Aces Pictures Private Limited, will acquire Finnet Media Private Limited for ₹8.70 Crore. The acquisition was approved by Saregama India's Board of Directors on September 25, 2025.
Pocket Aces Pictures Private Limited will acquire 100% equity share capital of Finnet Media Private Limited, consisting of 3,00,000 equity shares with a face value of ₹10 each, from its existing promoters. Additionally, Pocket Aces will acquire 2,88,235 Optionally Convertible Preference Shares (OCPS) upon completion of 2 years post-acquisition, as per the pricing mechanism outlined in the transaction documents.
The acquisition is subject to customary conditions precedent and subsequent as per the Transaction Agreements.
Finnet Media Private Limited is involved in media and entertainment, including content creation, production, distribution, and talent management. For the financial year ended March 31, 2024, Finnet Media Private Limited reported a turnover of ₹23.04 Crores.
The acquisition aims to strengthen Pocket Aces' artist and influencer management division, generate operational synergies, broaden market reach, and reinforce its position in influencer management.
The acquisition of the equity share capital is expected to be completed on or before October 30, 2025, unless extended as per the terms of the transaction documents.
| Particulars | Details |
|---|---|
| Target Entity | Finnet Media Private Limited |
| Acquirer | Pocket Aces Pictures Private Limited |
| Equity Shares | 3,00,000 |
| OCPS | 2,88,235 |
| Total Consideration | ₹8.70 Crore |
| Completion Date (Equity) | On or before October 30, 2025 |
The Board Meeting commenced at 12:00 noon and concluded at 01:20 P.M.
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