Anil Ambani Group firm Adlabs Films, said it will change its name to Reliance MediaWorks Ltd, as it reflects its identity as a diversified film and media services company.

The film and media services company has proposed to change its name to Reliance MediaWorks Ltd, subject to shareholders and other requisite approvals, the firm said in a statement.

The original name of Adlabs Films, was reflective of the company's initial business as a film processing laboratory.

"The name Reliance MediaWorks more accurately reflects our identity as a diversified film and media services company with a global presence. We are privileged to draw upon the international recognition of Reliance ADAG brand, to further strengthen our leadership position in media and entertainment business," company's chief executive officer Anil Arjun said.

After the acquisition of controlling stake in Adlabs in 2005 by Reliance ADA Group, the company saw transformational growth in the scale of its operations.

The group's financial strength and management expertise have acted as a catalyst in expanding Adlabs' leadership across various inter-related businesses of exhibition, film and media services and television software.

Adlabs's operations include a wholly-owned facility in Los Angeles in the US, which is regarded one of the premier digital restoration facilities in the world.