Balaji Telefilms to invest Rs 150 crore in its digital venture ALT Digital Media

Media Brief

Mumbai, March 10, 2016

Balaji Telefilms Ltd on Thursday announced that the company has raised an investment of Rs 150.08 crore from Vanderbilt University, GHI LTP Ltd, GHI HSP Ltd, GHI ERP Ltd and Atyant Capital India Fund-I for its digital venture ALT Digital Media.

The proceeds of the issue will be used to catapult the launch and growth of ALT Digital Media Entertainment Limited, the group's foray into the B2C digital content business segment, according to a statement.

ALT Digital Media will create its own highly differentiated, original digital content platform for the entire connected ecosystem spanning mobiles, computers, tablets, smart TVs and game stations, the statement said.

Sameer Nair, Group CEO, Balaji Telefilms, said, “We are now on a fast track mode to roll out the ALT Digital OTT platform which is set to redefine the entertainment viewing experience of Indian in India and across the globe."