Saregama's Pocket Aces acquires Finnet Media for Rs 8.69 crore

New Delhi: Saregama India’s Pocket Aces has acquired Finnet Media for a total cash consideration of Rs 8.69 crore. 

Pocket Aces will acquire 100% of Finnet Media's equity share capital, comprising 3,00,000 equity shares with a face value of Rs 10 each, from its existing promoters. Additionally, the agreement includes provisions for Pocket Aces to purchase 2,88,235 optionally convertible preference shares (OCPS) after two years, based on a predefined pricing mechanism outlined in the transaction documents. 

The equity portion of the acquisition is slated for completion by October 30, 2025, subject to customary conditions and approvals.

Finnet Media, incorporated in March 2022, specialises in media and entertainment services, with a focus on content creation, production, distribution, and influencer and talent management. 

Finnet exclusively represents over 40 creators, including the likes of Anushka Rathod (2 million followers), Chandralekha (1 million followers), Shankar Bhalla (1 million followers) and Dr Pal (5.3 million followers), has a team of 50+ members, and has worked with over 500 advertisers.

The company positions itself as a non-traditional influencer marketing agency, emphasising the building of authentic relationships between brands, creators, and consumers, particularly in niches like finance, health, and infotainment. 

With this investment, Pocket Aces makes a strategic expansion of its creator business Clout, which boasts a roster of over 240 talent in the categories of Entertainment, Comedy, Fashion, Beauty, Food, Fitness, Wellness and Changemakers.

Financially, Finnet reported a turnover of Rs 23.04 crore for the fiscal year ended March 31, 2024, marking growth from Rs 20.93 crore in the previous year.

Pocket Aces, known for its digital content brands like FilterCopy and Dice Media, has been a key part of Saregama's push into younger demographics since the music label giant acquired a majority stake in the company in 2023 for approximately Rs 174 crore, followed by full ownership in 2024. 

Ayush Shukla, Founder & CEO of Finnet, said, “4.5 years ago, I started this company out of Bhopal with no connections, money or backing. I still remember cold emailing brands with barely any case studies, just a passion and belief that creators deserved better. Cut to today, we have been strategically invested in by Saregama-backed Pocket Aces! For someone who grew up watching songs by Saregama and OTT shows by Pocket Aces, this is a validation of our work. With this backing, Finnet is going deeper into the BFSI + Health space, doubling down on trust, scale, and category leadership. We will not only enable growth for creators and brands but also invest and build with them.”

Aditi Shrivastava, Co-founder, MD & CEO of Pocket Aces, said, “We are very excited to partner with Ayush and his team at Finnet. They’ve built a strong niche. Their creators are the voice via which millions of young audiences understand personal finance, entrepreneurship, and wellness. Ayush is himself a fast-growing creator and has a great pulse on Gen Z audiences. This investment underscores our belief that the creator economy will continue to blow up in India and become a crucial factor for audiences to learn, get entertained, shop, and invest.”