Colorchips New Media Limited, an integrated design solutions company engaged in Film production, TV commercials, Animation & Web design, announced it has acquired 100% stake in Vega Music Private Limited.
“We wish to inform you that the Board of Directors of the Company in its meeting held today ie., August 05, 2021 have approved acquisition of 10,000 equity shares of Rs. 10/- each of Vega Music Private Limited (Vega Music). Consequent upon the completion of acquisition of the above shares, Vega Music would become a wholly-owned subsidiary of the Company,” the Company said in its exchange filing.
“The acquisition of the Company will give our Company full control over Vega Music and will add immense value to the existing operations and content owned by the Company,” it said.
Vega Music is in the business of production of music, songs and similar content. It has its presence in Telugu, Tamil, Kannada, Hindi and English Film Industry.
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