MUMBAI: Shemaroo Entertainment Ltd’s (Shemaroo) board of directors, at its meeting today, gave the green light to invest in a company to be incorporated as a wholly owned subsidiary in America’s New Jersey.

According to Shemaroo’s release to the BSE, the new entity is likely to be called Shemaroo Media & Entertainment Inc. The company will work in the media and entertainment industry and have a paid-up share capital of USD 50,000. 

Gearing itself for the next phase of growth, Shemaroo restructured its top leadership last month. The entertainment and content company elevated Hiren Gada as the chief executive officer (CEO) in addition to his existing role as chief financial officer (CFO). The company also promoted Kranti Gada to the role of chief operating officer (COO).

Having spent time with various divisions within Shemaroo and leading the organisation to scale up and get listed, Gada took on the leadership role in addition to his role as the CFO.

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