MUMBAI: Zee Entertainment Enterprises Ltd (ZeeL) is going to the movies. The company has announced that it is all set to acquire the film production and distribution business of its subsidiary Zee Studios on a slump sale basis over the next two months. It has priced the acquisition on a cash payout of Rs 275 crore.

Zee Studios generated a revenue of Rs 124.11 crore in FY 2019-20, Rs 299.54 crore in 2018-19, and Rs 165.98 crore in FY 2017-18.

In a regulatory filing to the BSE, ZeeL has stated that the acquisition of the business is going to result in growth opportunities for it. The company’s board gave the transaction the go-ahead on Thursday.

Incorporated in 2010, Zee Studios has been behind films such as Gadar Ek Prem Katha, Sairat, Rustom, Mom, Secret Superstar, Raees, Fukrey Returns, Half Girlfriend, Hindi Medium, Veeri Di Wedding, Mannikarnika: The Queen of Jhansi, Milan Talkies, Article 15, Good Newz, Uri: the Surgical Strike, Gold, Gully Boy, Dream Girl, among many others. It’s headed by CEO Shariq Patel.