RIL stakes in Balaji slip from 25% to 21%

Reliance Industries’ ownership in Balaji Telefilms slipped to 21.07% in FY25 from 24.82% a year earlier, as per the company’s annual report. Despite the decline, it continues to be the biggest non-promoter shareholder. RIL had originally invested about ₹413 crore in 2017, securing close to 25% equity through a preferential allotment aimed at strengthening its Jio-led content strategy.

The Kapoor family — Jeetendra, Shobha Kapoor, Ekta Kapoor and Tusshar Kapoor — together hold 32%, compared to 34.21% in the previous year. Meanwhile, institutional investors have been raising their bets: Vanderbilt University Atyant Capital Management increased its stake to 6.19% (from 4.51%), Gothic Corporation to 6.68% (from 4.76%), and Atyant Capital India Fund to 5.77% (from 4.02%). To support its film ambitions and boost IP creation, Balaji Telefilms also mobilised ₹130.7 crore through a preferential issue to eight investors.

For Reliance, the centre of its media and entertainment play is now JioStar, where it holds a majority stake alongside Disney. Over the past two years, RIL has pumped in more than ₹20,000 crore, first into Viacom18 and later into JioStar following the Disney merger.

Best known for its long-running television dramas, Balaji is now reorienting its strategy toward films and digital platforms. Over the next three years, management expects the film division to emerge as the primary growth driver, with digital to follow, while television will take a back seat. In June 2025, the studio announced a multi-project creative partnership with Netflix to produce a diverse slate of stories across formats.

However, its homegrown streaming app ALTT (earlier ALTBalaji) faced a setback when the Indian government banned the platform in July 2025, citing concerns over “obscene and provocative” content.