Reliance MediaWorks Ltd has received a funding proposal of Rs 605 crore from a leading international private equity firm.
The company, however, did not disclose the name of the PE player.
In a statement issued here today, Reliance Mediaworks said that it has signed a term sheet with the PE investor wherein the latter has agreed to acquire a minority stake in the entertainment firm. Both the firms have agreed to exclusivity for the next 90 days.
Reliance MediaWorks has a leading and comprehensive presence in film and media services.
The proposed investment is subject to completion of customary detailed due-diligence, definitive documentation, completion of subsidiarisation of the film and media services business, and approvals as may be necessary.