In a landmark move for the entertainment industry, Universal Music India (UMI) has acquired a 30 percent equity stake in film and digital content studio Excel Entertainment. This significant investment values Ritesh Sidhwani and Farhan Akhtar’s company at Rs 2,400 crore.
The announcement was made during an event attended by Maharashtra Chief Minister Devendra Fadnavis. He expressed elation over the deal, crediting Prime Minister Narendra Modi for laying the groundwork for this transaction during the WAVES Summit 2025.
CM Fadnavis shared his excitement in a congratulatory tweet, stating, “This Government has always believed that its role is to enable creativity, and a creative powerhouse like Mumbai is the rightful place for such an important agreement. Guided by the leadership of Hon PM Narendra Modi Ji, who set this mission in motion through last year’s WAVES summit, is where the seeds of this transaction were first sown. Thank you, Hon. Modi Ji, for your timeless vision in leading this creative revolution.”
He reflected on how this partnership will strengthen India’s position in the global market, making Mumbai a key player in the media ecosystem. The Chief Minister noted, “Universal Music Group, a global leader in music and intellectual property, choosing to deepen its engagement in India through Excel Entertainment, a creator-led, homegrown studio based in Mumbai, sends a powerful signal. It says India’s creative economy has come of age and that Mumbai is not just participating in the global media ecosystem; it is shaping it.”
Fadnavis emphasized the government’s commitment to ensuring that Mumbai not only competes but also leads in the entertainment sector.
He highlighted what makes Maharashtra an attractive destination for global investors: “Global companies look for five things while choosing to invest: talent, policy stability, respect for Intellectual Property, speed of execution, and a complete ecosystem. Mumbai and Maharashtra offer all five, supported by the Government of Maharashtra’s progressive policies, strong infrastructure, ease of doing business, skill development, and institutional support for intellectual property.”
Concluding his remarks, CM Fadnavis stated, “This government’s mission is to ensure that your hard work meets world-class opportunity. Mumbai has always told India’s stories; now it is ready to tell the world’s stories.”