ALTBalaji, a wholly-owned subsidiary of Balaji Telefilms Limited, has acquired 17.5% stake in the online celebrity digital engagement platform,
With 65% of its consumers coming from the non-metro and tier 2/tier 3 towns and cities, ALTBalaji has established a clear positioning as OTT of the masses – Hindi Masaledaar Content for India and Hindi Speaking Diaspora.
ALTBalaji will be entitled to appoint one board member to represent them on the board of B. D. Inno Ventures Pvt. Ltd. (the parent company of Tring). The investment and involvement of ALTBalaji in this space reinforces the potential of the booming celebrity commerce business in India.
Commenting on the current transaction Mrs. Shobha Kapoor, Managing Director Balaji Telefilms Limited said, “Balaji Telefilms has always believed in investing ahead of the curve and this investment in Tring allows us to better connect with audiences across India. We have successfully taken ALTBalaji to new heights since we launched in 2017,…