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Reliance Industries(RIL) appears to be expanding its entertainment footprint rapidly. RIL, through an overseas subsidiary, picked up a 5 per cent stake in Eros International, which is Eros International Media’s parent.
Eros has an extensive collection of over 2,000 films, which would be utilised to add to the content portfolio of RIL. Eros too is expected to benefit from RIL’s media portfolio.
Both parties would invest up to ₹1,000 crore to produce and acquire Indian films and digital original content across all languages.
After the initial rally of 4-5 per cent, Eros India’s stock has largely remained lukewarm to the announcement.
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