JioStar to merge TV distribution arm IndiaCast

Highlights

JioStar to merge TV distribution arm IndiaCast

JioStar India, the Reliance Industries-Disney joint venture, will merge its wholly owned television distribution subsidiary, IndiaCast Media Distribution, into the parent company under Section 233 of the Companies Act that enables fast-track mergers.

Under the deal, all assets, liabilities, contracts, employees and ongoing legal proceedings of IndiaCast will vest in JioStar India, subject to regulatory approvals. No shares will be issued and no consideration will be paid as IndiaCast is a wholly owned subsidiary. IndiaCast will be dissolved without winding up once the scheme becomes effective.

The proposed effective data for the merger is April 1, 2025, or as may be approved by the board, JioStar said in a regulatory filing, a copy of which ET has seen.

IndiaCast is engaged in aggregating and distributing television channels to cable and DTH operators. It was earlier a joint venture between Viacom18 and TV18. TV18 has since been amalgamated into Network18, while Viacom18 merged with Star India to form JioStar. IndiaCast also distributes channels of Eenadu Television and AETN18, which operates History TV18.

IndiaCast reported total income of INR240 crore and a net loss of INR 24 lakh for fiscal 2025, compared with income of INR 224 crore and a net loss of INR 2.63 crore in the previous year, according to its filings.

The board of JioStar India approved the scheme of amalgamation on July 14, 2025. The notice inviting objections or suggestions to the scheme was filed with the Registrar of Companies on January 23, 2026.

As part of the amalgamation, all intercompany investments, transactions and balances between IndiaCast and JioStar India will be cancelled.

The company said the merger is aimed at achieving operational, managerial and strategic efficiencies through consolidation of assets and liabilities, legal entity rationalisation, and reduction in administrative, legal and regulatory overheads.

Capstone Legal managing partner Ashish K Singh said that schemes under Section 233 typically take two-three months to complete if no objections are received from regulators. "This is also a welcome move from a corporate governance standpoint as it leads to a more streamlined group structure," Singh said.