Saregama subsidiary acquires Finnet Media for INR 8.69 crores

Saregama India Limited, through its material subsidiary Pocket Aces Pictures Private Limited, has approved the acquisition of 100% equity share capital of Finnet Media Private Limited for a total consideration of INR 8,69,67,750. The transaction, approved by Saregama's board of directors on September 25, 2025, will make Finnet Media a wholly-owned subsidiary of Pocket Aces Pictures Private Limited. The acquisition encompasses 300,000 equity shares with a face value of INR 10 each.

Finnet Media Private Limited, incorporated on March 28, 2022, operates in the media and entertainment sector, specializing in content creation, production, distribution, and talent management. The acquisition aims to strengthen Pocket Aces' artist and influencer management division by leveraging Finnet Media's operations in the same business segment, expecting to generate operational synergies and broaden market reach.

Finnet Media's turnover for the financial year ended March 31, 2024, was Indian Rupees 23,04,47,720. The acquisition of the equity share capital is expected to be completed on or before October 30, 2025. Additionally, Pocket Aces will acquire 288,235 Optionally Convertible Preference Shares upon completion of two years post the equity share acquisition.