Universal to buy 30% stake in Excel Entertainment, values Farhan Akhtar-led firm at ₹2,400 crore

Universal Music India will acquire a 30% stake in film and digital content studio Excel Entertainment, valuing the company at about ₹2,400 crore, the companies said on Monday.

The deal lays the foundation for a “ new strategic partnership” between the Indian arm of Universal Music Group and the production house founded by filmmakers Ritesh Sidhwani and Farhan Akhtar.

Under the agreement, Universal Music Group will receive global distribution rights for all future original soundtracks created for projects owned or controlled by Excel Entertainment.

The partnership also includes the launch of a dedicated “Excel Music” label, which will be distributed worldwide by Universal, while Universal Music Publishing Group will become Excel’s exclusive music publishing partner.

Universal Music India Chairman and Chief Executive Devraj Sanyal will join Excel Entertainment’s board, while Sidhwani and Akhtar will continue to oversee creative direction and content decisions, the statement said.

“The Indian film scene presents a hugely exciting opportunity for music and the music-led entertainment business, and Excel is the perfect partner for us to work with going forward,” Sanyal said.

Sidhwani and Akhtar said the partnership would unlock new opportunities for artistes and repertoire across music, film, and emerging formats, and both entities aim to take culturally rooted stories to the world.

Excel Entertainment Chief Executive Vishal Ramchandani said the deal would help transform the company into a global creative studio producing original content across platforms and geographies.

The announcement comes amid a surge in strategic investments in Bollywood production houses.

In recent months, industrialist Adar Poonawalla acquired a 50% stake in Dharma Productions for ₹1,000 crore, while Saregama India agreed to buy a 28% stake in filmmaker Sanjay Leela Bhansali’s company for ₹325 crore.

Maharashtra Chief Minister Devendra Fadnavis, who was present at the announcement, said the investment “sends a very powerful signal that India's creative economy has come of age, our talent is global ready.”

Universal Music Group said the partnership would deepen its engagement in India, which it described as a high-potential market for recorded music.

India is currently the world’s 15th-largest recorded music market by revenue, with around 375 million over-the-top video viewers and about 650 million smartphone users, the company said.

Founded in 2001, Excel Entertainment has produced more than 40 films, starting with the blockbuster Dil Chahta Hai, along with several original scripted series for digital platforms.