The company has signed a "term sheet to acquire a 50 per cent stake in Puja Entertainment & Films", Eros International Media said in a BSE filing.
It however did not disclose any financial details of the agreement.
Eros Chairman Kishore Lulla said: "As a studio, we want to continue developing prolific content."
Puja Entertainment Chairman Vashu Bhagnani said: "Puja films has been in the movie making business for the past 20 years and it is crucial to partner with a global player like Eros to continue making meaningful and profitable cinema."
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