New Delhi: Mukta Arts Ltd on Tuesday informed stock exchanges that it has signed a Memorandum of Understanding (MOU) with Green Gold Animation to collaborate on the development and production of animated shows and feature films based on Mukta Arts’ intellectual property portfolio.
The move signals the production house’s formal foray into large-scale animation content, leveraging its legacy film catalogue spanning over four decades.
Under the agreement, the companies will jointly develop multiple animated intellectual properties inspired by landmark Mukta Arts films such as Kalicharan, Karz, Hero, Karma, Ram Lakhan, Khalnayak, Saudagar and Iqbal, along with character-led spin-offs.
Creative teams from both companies have already initiated discussions, with the first project currently under development.
Mukta Arts had launched SGM Animation Studio in 2025 as its dedicated animation and gaming division. The studio focuses on developing animated films, series, comic books and games by drawing from its existing IP library while also creating new original properties.
Green Gold Animation, founded by Rajiv Chilaka, is best known for building the globally popular Chhota Bheem franchise and producing hundreds of hours of animated content across television and OTT platforms.
Rajiv Chilaka, Founder and CEO of Green Gold Animation, said the collaboration offers an opportunity to transform iconic cinematic stories into character-driven animated universes tailored for young and global audiences.
Subhash Ghai, Founder of Mukta Arts, said the partnership allows the company to extend its storytelling legacy into new-age formats and connect with the next generation through animation.
The partnership reflects a broader trend among Indian film studios to monetise legacy IPs across new media formats, including animation, gaming and digital streaming.
As global demand for locally rooted but internationally scalable animated content rises, the collaboration could open additional revenue streams through licensing, merchandising and cross-platform storytelling.
Shares of Mukta Arts may remain in focus as investors track developments around its animation vertical and monetisation strategy.