Overview
- Universal Music India signed a definitive agreement for a 30% stake that values Excel Entertainment at ₹2,400 crore.
- Devraj Sanyal will take a board seat at Excel, while founders Ritesh Sidhwani and Farhan Akhtar retain creative control.
- Universal Music Publishing Group will serve as Excel’s exclusive publishing partner across future projects.
- A dedicated Excel music label will be launched with UMG handling global distribution, with rollout details to follow.
- The partnership was announced in Mumbai at a press event attended by Maharashtra Chief Minister Devendra Fadnavis, with Morgan Stanley, AZB & Partners, Khaitan & Co., KPMG and Ernst & Young advising.