Mumbai, Nov 21 :    Mumbai, Nov 21:  Nine Network Entertainment India, a wholly owned subsidiary of Nine Broadcasting India, is merging with Balaji Telefilms. Nine Broadcasting is a company promoted by HFCL and Channel Nine. The swap ratio for the merger has been proposed at 65 shares of Balaji for every 200 shares of Nine Network Entertainment. After the merger, the two representatives of Nine Broadcasting India, Ravina Kohli and Anthony Klok, will join the Balaji board. The amalgamation will increase Balaji's share capital by 2.6 million shares, and will give Nine Broadcasting India a 20 per cent stake in the company. Balaji said in a release issued here today that it would continue to be independent in developing software for channels. The company, run by cine-star Jeetendra, offers 34 hours of television software development for channels such as Doordarshan, Star TV, Sony TV, Zee TV, Gemini TV and Udaya TV. It recently launched a public issue of 2.8 million shares at a price of Rs 130 per share to raise funds for investments in infrastructure. This will help it meet the growing demand for television software. The scrip will be listed on the BSE tomorrow. On the other hand, Nine Network Entertainment India has been established to develop software for Nine Broadcasting India. Balaji said both companies will seek approval from respective shareholders and other statutory authorities to effect the merger. They were advised by Triumph International Finance on ways to seal the transaction. At present, Balaji produces a number of serials such as Hum Paanch, Kyon Ki Saas Bhi Kabhi Bahu Thi, Kahani Ghar Ghar Ki, Kanyadaan, Ghar Ek Mandir, Karma. In regional languages too, it has several popular serials in its stable. These include Kulaa Villaakku, Kalsisundamra and Pavitrabandham.