An open offer to purchase a 29% share in (New Delhi Television Ltd) NDTV has been made by Adani Enterprises.
The Adani Group announced in a statement that AMG Media Networks Limited, a division of the Adani group, will indirectly purchase a 29.18% share in NDTV and make an open offer for a further 26% investment in the media company.
“VCPL, an entirely owned subsidiary of AMNL, has warrants from RRPR Holding Private Limited (RRPR) that give it the right to convert them into a 99.99% ownership position in RRPR. In order to acquire a 99.5% share in RRPR, VCPL executed warrants. As a result of this acquisition, VCPL will come under the control of RRPR. RRPR is a member of NDTV’s promoter group and owns 29.18% of the firm (NDTV, BSE: 532529).
According to the 2011 SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, the Adani Group businesses will begin an open offer to purchase up to 26% of NDTV.
“This acquisition is a critical turning point in AMNL’s quest to open up new age media to all platforms, “the CEO of AMG Media Networks Limited, Sanjay Pugalia, remarked.
“AMNL aims to provide information and expertise to Indian people, customers, and foreigners with an interest in India. NDTV is the best broadcast and internet platform due to its dominant position in news and strong, diverse reach across genres and regions.”
Shares of NDTV closed at Rs 366.20 on Tuesday, an increase of 2.61 percent from the previous closing.
It made Rs 230.91 crore in income during the fiscal year that ended March 31, 2022.
