Saregama India Limited has informed exchanges that its material subsidiary, Pocket Aces Pictures Private Limited, will acquire 100% equity share capital of Finnet Media Private Limited for a total cash consideration of ₹8.69 crore.
The acquisition involves 3,00,000 equity shares (face value ₹10 each) and will make Finnet a wholly owned subsidiary of Pocket Aces. Additionally, after two years, Pocket Aces will also acquire 2,88,235 optionally convertible preference shares (OCPS) of Finnet, as per the pricing mechanism in the agreement.
About Finnet Media
- Business: Media and entertainment, including content creation, production, distribution, influencer and talent management.
- Turnover: ₹23.04 crore in FY24 (₹20.93 crore in FY23).
- Incorporated: March 28, 2022.
- Focus: Influencer and social media marketing services, particularly in finance, health, and infotainment.
Strategic Rationale
The acquisition is aimed at strengthening Pocket Aces’ artist and influencer management division. Finnet operates in the same segment, and the deal is expected to generate synergies, broaden market reach, and reinforce Pocket Aces’ position in influencer marketing.
The transaction agreements have been signed, and the equity acquisition is expected to close by October 30, 2025, subject to conditions precedent.
