Saregama India Limited (BSE:532163) signed an agreement to acquire 51.82% stake in Pocket Aces Pvt. Ltd. from Aditi Shrivastava and other shareholders for INR 1.74 billion on September 28, 2023. In related transaction Saregama India Limited will acquire up to 41% stake in next 15 months and a subscription agreement in Pocket Aces Pvt.

Ltd. Pocket Aces Pvt. Ltd. will report turnover INR 1.04 billion in March 31, 2023. Transaction is expected to be completed within 2 months from the execution date.

Ashraya Rao, Unnita Bhattacharya, Sudhir Bassi, Smriti Yadav and Anshul Prakash of Khaitan & Co. acted as the legal advisors to Saregama India Limited.