iWorld
Reliance Industries buys Balaji Telefilms stake for Rs 4.13 bn
MUMBAI: The Board of Directors of Balaji Telefilms Limited, in its meeting held on Thursday, considered and approved an investment by Reliance Industries Limited, one of India’s leading corporates, through a preferential issue of 25.2 million equity shares at Rs 164 each, aggregating to Rs 4.13 billion, subject to necessary shareholder and other approvals. Axis Capital Limited acted as the sole investment banker for this transaction.
Balaji is India’s leading entertainment content producer operating across television, movie and digital platforms. The company recently launched ALTBalaji, a multi-device subscription video on demand platform, which offers original, premium and exclusive content for a global digital audience and in a short span, post its launch, has garnered over four million downloads across 80 countries.
This transaction marks a landmark event for the Indian OTT industry and is expected to further accelerate the growing trend of media consumption ‘on-the-go’. The proceeds from the transaction would be utilized to further speed up content development initiatives, especially for ALT, thereby providing it with a strong ability to compete with other OTT service providers- both global and Indian.
Balaji chairman Jeetendra Kapoor said, “We welcome Reliance as a partner in our growth journey towards becoming the preferred content producer for the Indian diaspora across all means of video consumption and across all geographies. This investment is a vote of confidence to the Company’s strategic move to own our IP and our viewers.”
Earlier, Jio and Zee Entertainment reportedly denied reports of being offered to buy a stake in ALTBalaji. Balaji was planning to sell up to 26 per cent stake in its subsidiary ALTBalaji Digital and reportedly in talks with the media companies. Launched in mid-April ALTBalaji has 250 plus hours of programming.
Gaming
Roblox appoints Sunil Rao as India managing director to drive growth
Former AWS leader to lead creator ecosystem, partnerships and local strategy
MUMBAI: Roblox has appointed Sunil Rao as managing director for India, as the company looks to deepen its footprint in one of its fastest-growing markets.
Rao, who will join in May, will serve as the senior-most representative for Roblox in India, leading local strategy, partnerships and day-to-day operations. His mandate includes strengthening the platform’s presence, supporting the creator ecosystem and aligning India’s market needs with global priorities.
A key focus area will be nurturing India’s growing community of developers and creators, enabling local studios to leverage Roblox’s tools for scaling and monetisation. Globally, the platform’s creator community earned over $1.5 billion in 2025, underlining the economic potential of user-generated content ecosystems.
“Roblox is at the forefront of enabling a new generation of creators and games. India’s scale, creativity, and entrepreneurial energy present a massive opportunity,” said Rao. “I’m excited to build a vibrant and inclusive ecosystem that empowers developers and creators across the country. Ensuring child safety and aligning closely with India’s regulatory framework will be among my top priorities.”
Welcoming the appointment, Roblox vice president international Zhen Fang said India represents a high-potential market for the company. “Sunil brings deep expertise in building operations across diverse markets, and his passion for community-centric platforms makes him the ideal leader to drive our next chapter of growth in the country.”
Rao brings over two decades of experience across technology platforms, venture capital and developer ecosystems. He was previously part of the leadership team at Amazon Web Services, where he led strategy and corporate business development across Asia-Pacific and Japan. He also served as a partner at Lightspeed Venture Partners, working closely with startups and founders.
Earlier in his career, Rao played a key role in building developer ecosystems at Symbian, Nokia and Google, contributing to the growth of major mobile and internet platforms.
With India’s large youth population and rapidly evolving digital landscape, Roblox’s latest leadership move signals a sharper focus on long-term growth, local relevance and creator-led innovation in the market.
