The 135 billion RPG Group’s entertainment arm, Saregama India Ltd declared on Saturday, June 29, that it is going to invest around Rs 1.5 billion in movie production and other businesses in the coming 18 months’ duration. Mr Sanjiv Goenka, who is the vice-president of Saregama, during the launch of the music album of Bengali film Khela, said, ‘We plan to invest Rs 1-1.5 billion in Saregama over a period of 12-18 months.’

Saregama India Ltd has already produced a number of movies, including Bengali and Hindi films. Thereafter, Mr Sanjiv Goenka went on to add, ‘We will invest Rs one billion for films in the coming two years.’ It was informed that Saregama could also soon enter the event management sphere. The reason cited by Mr Goenka was that events happen to be a vital part of entertainment.  ‘We are in the final stage of talks with one event management company. We plan to pick up minority stake in that company,’ revealed the vice-president of Saregama.