iWorld
ALTBalaji acquires 17.5 per cent stake in Tring
KOLKATA: ALTBalaji has acquired 17.5 per cent stake in the online celebrity digital engagement platform, Tring. With this investment, Tring’s valuation rose to about Rs 100 crore in the short period since its inception earlier this year.
The celebrity shout-out and engagement platform was started in February 2020 by Akshay Saini, Rahul Saini and Pranav Chabhadia. Tring has over 2000+ celebrities and offers a wide range of digital services like personalized video shoutouts/messages, live video calls, DMs on Instagram, etc. for two-way engagement between celebs and their fans.
As part of this transaction, 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 reinforces ALTBalaji’s presence in the lucrative celebrity commerce business in India.
Commenting on the new development, Balaji Telefilms Ltd joint managing director Ekta Kapoor said, “Having been in the business of entertainment for more than two decades now, we value the bond between celebrities and their fans. Both ALTBalaji and Tring work with talent and try to bring them a step closer to their fans and vice-versa. We believe this synergy will work in favour of both the brands and help each other widen our reach.”
Balaji Telefilms Ltd managing director Shobha Kapoor said, “This investment in Tring allows us to better connect with audiences across India. The team at Tring has done a tremendous job in such a short period, and we are confident that with our investment and support, they will scale much faster, bringing audiences closer to the celebrities they adore.”
Speaking on this investment round, Tring co-founder Akshay Saini said Balaji’s investment in Tring will help the platform continue its market penetration and better reach the masses. “We have just begun, it is day one,” he added.
Tring’s existing investors include ace-photographer and movie producer Atul Kasbekar, along-with industry-leaders and super angel investors viz. Kalyan Krishnamurthy CEO Flipkart, Sujeet Kumar CEO Udaan, Gaurav Munjal CEO Unacademy, Roman Saini, Hemesh Singh, Sumit Jain, Dinesh Godara (Founding team Unacademy), Keshav Sanghi (Ventureworks India), Dalbir Saini (Chairman BDI Group) amongst others.
iWorld
Tips Music CEO Hari Nair to step down
Girish Taurani and Sushant Dalmia to jointly steer the company as the hunt for a new chief begins
MUMBAI: A leadership shuffle is under way at Tips Music. Hari Nair, the company’s chief executive, will step down on April 30 as the music label begins the search for a successor.
The company said Girish Taurani, executive director, and Sushant Dalmia, chief financial officer, will jointly oversee operations during the transition while the board identifies a permanent replacement.
Nair joined Tips Music in 2023 and set about reshaping the veteran music label into a more digital, data-led enterprise. During his tenure, the company secured licensing and partnership deals with global platforms including Sony Music Publishing and TikTok, while renewing agreements with Warner Music Group.
Drawing on earlier experience in technology and entertainment, including a stint at ByteDance, Nair pushed the organisation towards a performance-driven culture. He built a brand partnerships division and introduced proprietary software systems aimed at strengthening digital distribution and data capabilities.
Kumar Taurani, chairman and managing director, credited Nair with embedding a data-led culture within the company and driving revenue growth in line with shareholder commitments.
In his resignation note, Nair said that after helping transition the label into a modern, digitally focused and process-driven organisation, the time had come to pursue his next leadership challenge.
The leadership change comes as the broader Tips Films group shows signs of financial stabilisation. In the third quarter of FY26 the company reported a net loss of Rs 2.86 crore, narrowing sharply from Rs 14.2 crore in the previous quarter. For the nine months ended December, losses stood at Rs 12.37 crore.
Yet revenue told a more volatile story. Income from operations slid to Rs 4 crore in Q3 FY26 from Rs 56 crore in the preceding quarter, taking total operating income to Rs 4.56 crore.
For a company built on a catalogue of more than 34,000 tracks and decades of Bollywood hits, the next chief will inherit both a digital engine and a volatile music market. The playlist may be familiar, but the next act at Tips Music is only just beginning.
