Mumbai, December 17, 2025 – In a major move that signals a new era for premium Bollywood content creation, Saregama India Ltd has announced a strategic investment in Sanjay Leela Bhansali’s Bhansali Productions Pvt Ltd (BPPL). The deal, valued at ₹325 crore initially, sees Saregama picking up a 28% stake through subscription to compulsory convertible preference shares, with an option to increase it up to 51% by March 31, 2030.
This long-term alliance marries Bhansali’s unparalleled expertise in grand, auteur-driven storytelling with Saregama’s dominance in music acquisition, live events, and digital content. A key highlight: Bhansali Productions will exclusively license music rights for all its future films to Saregama under a pre-agreed pricing formula, ensuring a steady pipeline of blockbuster soundtracks without competitive bidding wars.
Sanjay Leela Bhansali, the visionary behind timeless epics like Devdas, Bajirao Mastani, Padmaavat, and Gangubai Kathiawadi, as well as the Netflix sensation Heeramandi, retains full creative control and IP ownership over his projects. The infusion will fuel an ambitious slate of over 10 feature films in the next three years, including the highly anticipated Love & War starring Ranbir Kapoor, Alia Bhatt, and Vicky Kaushal.
Speaking on the partnership, Bhansali said, “For me, powerful and meaningful cinema requires time, trust and a deep respect for the process. In Saregama, we have found a partner that understands this philosophy.”
Avarna Jain, Vice Chairperson of Saregama India Ltd, added, “This partnership underscores Saregama’s strategy of aligning with India’s finest creative minds while delivering long-term value to shareholders. Bhansali Productions’ excellence in storytelling and content creation perfectly complements our leadership in music and entertainment.”
As part of its evolving strategy, Saregama plans to phase out in-house film production over the next 1-2 years, shifting focus to such high-value collaborations. The deal is projected to be EPS-accretive by FY27, boosting margins in music and video segments.
Bhansali Productions, which posted ₹304 crore in revenue for FY25 with strong profitability, continues to redefine Bollywood grandeur. This tie-up could redefine how music and cinema intersect in the industry, promising fans more opulent soundtracks and visuals in the years ahead.
Approach Bollywood brings you the latest on this game-changing deal – stay tuned for updates on upcoming Bhansali magic!
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