afaqs! news bureau

Enam Group acquires minority stake in Arré

Ronnie Screwvala, co-founder of Arré, had reduced his stake in the company earlier this year; now, following his exit, Enam has acquired his stake.

In a latest development, media honcho Ronnie Screwvala has bowed out from Arré, the multi-genre digital media brand which he co-founded with former Network18 executives B Saikumar and Ajay Chacko.

Enam Group acquires minority stake in Arré

The investing firm Enam Group has subsequently, along with the co-founders of Arré, acquired the latter's residual stake held by Screwvala and his firm Unilazer Ventures.

In February this year, we had reported that Screwvala had reduced his stake in the company, but was to continue as a mentor. He has now exited the company altogether.

Enam's investments will be used in the organic build out of Arré's content, the overall product offering and facilitate scaling into a significant player in the digital content business.

Enam Group acquires minority stake in Arré

B Saikumar, founder and managing director, Arré, says in a press release, "I am delighted to have the Enam Group on board. Arré and Enam have a unified vision of making Arré the definitive multi-genre, multi-format digital destination for a whole new world of digital consumers pan-India, and going forward, in geographies outside India."

The Enam Group, which has been an investor in several sectors including media, has earlier invested in Zee TV, TV18 and Balaji Telefilms. The Arré investment would be Enam's first significant investment in the private equity domain in the media sector.

Arré is a multi-media, multi-genre digital media brand offering original content across video, audio, text, and doodles, across various genres such as fiction, factual entertainment, documentaries, and social experiments.

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