Universal Music India on Monday said it will pick up 30% equity stake in film and digital content studio Excel Entertainment, valuing the Ritesh Sidhwani and Farhan Akhtar founded firm at ₹2,400 crore.
A division of Universal Music Group (UMG), a world leader in music-based entertainment, Universal Music India (UMI) said it has entered into a definitive agreement with Excel Entertainment for the proposed transaction.
"Under the agreement, which values Excel at ₹2,400 crore (euro 257 million), UMI will become a significant minority shareholder in Excel with a 30% equity stake," UMI said in a statement.
1 January 2026
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The deal will provide the foundation for a new strategic partnership between UMI and Excel to accelerate Excel's growth and further enhance UMI's position in the important Indian market, it added.
Devraj Sanyal, Chairman and CEO of Universal Music India & South Asia and SVP of Strategy, Africa, Middle East and Asia, will serve on Excel Entertainment's Board of Directors as part of the agreement.
Excel founders Ritesh Sidhwani and Farhan Akhtar will continue to shape creative direction and content decisions, the statement said.
As per the agreement, UMG will gain global distribution rights for all future original soundtracks created for projects owned or controlled by Excel.
The alliance also includes the launch of a dedicated Excel music label, to be globally distributed by UMG, it added.
Universal Music Publishing Group will also become Excel's exclusive music publishing partner, creating opportunities for existing UMG and UMI artists and repertoire to be included in Excel's future productions.
Commenting on the deal, UMG CEO of Africa, Middle East and Asia (AMEA), Adam Granite said, "Today's announcement further strengthens UMG's position in India, a dynamic and strategically important music market for the group globally." He further said, "By investing in and partnering with Excel Entertainment, UMG will be uniquely positioned to contribute from the earliest stage to Excel's future endeavours and throughout the creative process, providing huge benefits to both parties." Excel Entertainment Founders Ritesh Sidhwani and Farhan Akhtar said India's entertainment landscape continues to grow from strength to strength, and this is the perfect moment to build meaningful global collaborations.
The partnership with UMG will be a "truly creative and transformative alliance -- one that unlocks fresh opportunities for artists and repertoire across music, film, and emerging formats," they added.
Excel was founded in 1999 by Ritesh Sidhwani and Farhan Akhtar, who between them have garnered 60 entertainment industry awards and accolades. The studio has released more than 40 films, beginning with 2001 blockbuster 'Dil Chahta Hai', and original scripted series shows.
