Reliance Entertainment Studios Private Limited

Terminated

Indian film/media production studio

What it is: A private company in indian film/media production studio preparing to list via a SPAC merger. Full profile in progress.
What it’s doing now: Merging with International Media (IMAQ) — terminated, announced Oct 22, 2022.
What you should know: Data is still being assembled for this company — what is shown below is everything we have verified so far.

Profile in progress — we only publish what we can verify in filings, and for this company that work isn’t finished. Identity and deal facts above are current; business detail, financials and peers will appear as the filings are parsed.

What the company says about itself

Web research — not audited

What our web check found

[WEB-INTEL 2026-08-26] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal for the two companies is in the form of a total of $102 million in cash and $38 million in investment, spread over four tranches." [https://variety.com/2022/film/global/reliance-entertainment-studios-international-media-acquisition-1235419410/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal for the two companies will total $102 million in cash and $38M in investment" [https://deadline.com/2022/10/shibasish-sarkar-spac-imaq-buys-reliance-studios-risee-entertainment-1235159377/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "On October 22, 2022, IMAC entered into a Stock Purchase Agreement (the "SPA") with the Seller" [https://www.prnewswire.com/news-releases/international-media-acquisition-corp-announces-additional-payments-to-be-contributed-to-trust-in-connection-with-extension-proposal-and-postponement-of-special-meeting-of-shareholders-until-january-27-2023-301731700.html] [WEB-INTEL 2026-08-26] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal for the two companies is in the form of a total of $102 million in cash and $38 million in investment, spread over four tranches." [https://variety.com/2022/film/global/reliance-entertainment-studios-international-media-acquisition-1235419410/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal for the two companies will total $102 million in cash and $38M in investment" [https://deadline.com/2022/10/shibasish-sarkar-spac-imaq-buys-reliance-studios-risee-entertainment-1235159377/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Reliance Entertainment Studios Private Limited. totaling $102 million in cash and $38 million in investment. Tranche 1 is for $40 million in ..." [https://news.spacconference.com/2023/01/11/international-media-acquisition-files-investor-presentation-on-reliance-entertainment-deal/] [WEB-INTEL 2026-08-26] 4 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "totaling $102 million in cash and $38 million in investment" [https://news.spacconference.com/2023/01/11/international-media-acquisition-files-investor-presentation-on-reliance-entertainment-deal/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "the deal for the two companies is in the form of a total of $102 million in cash and $38 million in investment, spread over four tranches" [https://variety.com/2022/film/global/reliance-entertainment-studios-international-media-acquisition-1235419410/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal for the two companies will total $102 million in cash and $38M in investment" [https://deadline.com/2022/10/shibasish-sarkar-spac-imaq-buys-reliance-studios-risee-entertainment-1235159377/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "On October 22, 2022, IMAC entered into a Stock Purchase Agreement (the "SPA") with the Seller" [https://www.prnewswire.com/news-releases/international-media-acquisition-corp-announces-additional-payments-to-be-contributed-to-trust-in-connection-with-extension-proposal-and-postponement-of-special-meeting-of-shareholders-until-january-27-2023-301731700.html]

Source: company web presence · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

Reliance Entertainment Studios Private Limited is merging with International Media (IMAQ), a $230M SPAC currently marked Deal announced and trading at $10.10 against $12.03 in trust per share.

Headline equity value

$102M

Structure per SEC accession(s) 0001104659-22-110798; 0001654954-23-013588, 0001104659-22-110798. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

Was this deal done at an expensive or a cheap valuation?

SpacBrain’s read on the price

No multiple can be computed

We hold no revenue figure in US dollars for Reliance Entertainment Studios Private Limited, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $102M regardless.

We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.

What the buyers are paying for the whole company$102M

Announced equity value (net debt unknown).

Divided by what the company actually sells in a yearno revenue figure on file

Not extracted from the filings yet.

= what this deal pays for every dollar of those salesno multiple

Not computable — no revenue figure has been extracted from the filings yet.

What the stock market pays for its closest listed peersno comparable multiple

No listed comparable carries a revenue multiple we can use.

What qualifies the figures above

The target's cash and debt are not in the filings we have, so this is an equity value used as a stand-in for enterprise value.

Common questions

Is Reliance Entertainment Studios Private Limited going public?

Reliance Entertainment Studios Private Limited has a signed merger with the SPAC International Media (IMAQ), announced Oct 22, 2022. Deal status: Terminated.

What is Reliance Entertainment Studios Private Limited's SPAC deal valuation?

The announced headline equity value is $102M.

Was Reliance Entertainment Studios Private Limited bought at an expensive or a cheap valuation?

Does Reliance Entertainment Studios Private Limited have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.