Adani Groups To Acquire 28% Stakes Of NDTV Media House

Business Tycoon Mr. Gautam Adani led Adani Groups is set to acquire 28% stakes of NDTV News Media house.

On the 23rd of August, the media arm of the Adani Group said it had exercised rights to acquire an indirect stake of 29.18% in New Delhi Television (NDTV) through the conversion of loans into an equity stake.  Furthermore with this acquisition, an open offer for acquiring a 26% stake in NDTV from its shareholders.

The promoter entity RRPR Holding, at the centre of the acquisition, has been asked to transfer its shares to the acquirer Vishvapradhan Comm­ercial (VCPL) in two days.  The AMG Media, a subsidy of the Adani Group released an official statement regarding the same.  

Mr. Sanjay Pugalia, the AMG Media Networks Limited Chief Executive Officer (CEO,) said, “This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms.”

Moreover, the open offer for 26% in NDTV, according to the document released to the stock exchanges has been valued at Rs. 493 crore.  The open offer price has been pegged at Rs 294 per share, a discount of 19.7%.

Meanwhile, with this stake acquisition, the Adani Groups would also enter into the digital media and news industry in India.

Stay tuned for further updates.

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