In a strategic move to simplify its corporate architecture, JioStar India—the joint venture between Reliance Industries and Disney—has proposed the merger of its wholly owned subsidiary, IndiaCast Media Distribution Private Limited, into itself. The amalgamation is set to be executed through a “fast-track” process under Section 233 of the Companies Act, bypassing the lengthy NCLT-led proceedings typically required for larger mergers.
The proposed scheme involves the transfer of all assets, liabilities, contracts, and employees of IndiaCast to JioStar India. As IndiaCast is already a 100% subsidiary of JioStar, the merger will not involve any share issuance or cash payments. Once the process is complete, IndiaCast will be dissolved without a formal winding-up.
This consolidation follows the massive $8.5 billion (₹70,000 crore) merger of Viacom18 and Star India that created JioStar in late 2024. IndiaCast, which was originally a joint venture between Viacom18 and TV18, currently manages the distribution and aggregation of over 100 channels, including popular brands like Star, Colors, and History TV18, across cable and DTH platforms.
According to regulatory filings, IndiaCast has shown significant improvement in its financial health leading up to this merger. For the fiscal year ending March 31, 2025 (FY25):
- Total Income: Increased to ₹240 crore (up from ₹224 crore in FY24).
- Net Loss: Drastically narrowed to ₹24 lakh (down from ₹2.63 crore in FY24).
By integrating the distribution arm directly into the parent company, JioStar aims to eliminate inter-company transactions and reduce the administrative, legal, and regulatory overheads associated with maintaining separate legal entities.
Timeline and Regulatory Status
The JioStar board approved the amalgamation on July 14, 2025, with a proposed effective date of April 1, 2025. A formal notice inviting objections was filed with the Registrar of Companies (RoC) on January 23, 2026. Legal experts suggest that since there are no external shareholders involved, the merger could be completed within two to three months, provided no regulatory objections arise.
This move reinforces JioStar’s dominant position in the Indian media landscape, as it continues to streamline its operations to better compete with global rivals like Netflix and Amazon Prime Video.
Key Highlights:
- The Move: JioStar India is merging its distribution arm, IndiaCast, into the parent entity to streamline operations.
- The Process: Utilizing the “Fast-Track” route under Section 233 of the Companies Act for 100% subsidiaries.
- Financials: IndiaCast reported ₹240 crore in income for FY25, with losses narrowing significantly to just ₹24 lakh.
- Timeline: Board approval was granted in July 2025, with final regulatory filings initiated in January 2026.