#adani group acquire ndtv
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NDTV takeover: Adani Group to launch open offer on November 22
NDTV takeover: Adani Group to launch open offer on November 22
Adani Group has announced that its open offer to acquire an additional 26 per cent stake in NDTV will be open for subscription from November 22 to December 5.
The open offer for acquiring 1.67 crore equity shares with a face value of Rs 4 will tentatively close on December 5, 2022, said JM Financial, which is managing the offer. The price fixed for the deal is Rs 294 per share. Earlier, the…
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Adani Group to take full control of IANS after raising stake to over 99 per cent
NEW DELHI — Billionaire Gautam Adani’s conglomerate Adani Group is set to take complete ownership of news agency IANS India Pvt Ltd by raising its stake in the company, further expanding its media presence after acquiring NDTV.
In December 2023, Adani Group had picked up the controlling stake in IANS at 50.50 percent. Now, the conglomerate has raised its shareholding to 76 per cent with voting…
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According to the stock exchange statement, AMG Media Networks Ltd., a subsidiary of Adani Group, entered a share purchase agreement to buy the remaining shares in QBML. Even in the wake of the Adani tax evasion controversy, Adani made his first investments in the Indian news sector through Quintillion, and in December 2020, he bought a 65% share in NDTV. Prior to this, AMG Media paid Rs 47.84 crore to acquire a 49% share in Quintillion Business Media Ltd (QBML).
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Adani Group now holds 64.71% stake in New Delhi Television Limited ie NDTV, Adani Group AMG Media Networks has acquired 49% stake in digital news platform Quintillion Business Media, according to the stock exchange filing of Adani Enterprises #Adanienterprises #royaladmin
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Adani Group acquires NDTV founders’ 27.26% stake to raise stake to 64.7%
The creators of the news network, Prannoy Roy and his wife Radhika Roy, sold their 27.26% equity holding in NDTV to The Adani Group on Friday. Consequently, after purchasing the majority of the founders’ stock at a premium of approximately 17% above the price it paid to the company’s minority shareholders, it was able to fully control the news channel NDTV.
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Adani takes control of NDTV, buys promoters at 17% premium to open offer price
Adani takes control of NDTV, buys promoters at 17% premium to open offer price
NEW DELHI: Adani group on Friday gained full control of news broadcaster NDTV after it acquired most of founders — Prannoy Roy and Radhika Roy — stake at a premium of almost 17 per cent over the rate it paid to minority shareholders of the firm.Adani group now holds 64.71 per cent of New Delhi Television Ltd (NDTV), according to a regulatory filing.The group run by Asia’s richest man Gautam Adani…
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Gautam Adani promises to keep Lakshman Rekha with NDTV editorial
Gautam Adani promises to keep Lakshman Rekha with NDTV editorial
Adani Group became the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
New Delhi,UPDATED: Dec 28, 2022 20:24 IST
Gautam Adani is India’s richest man. (Photo: Bandeep Singh (Group Photo Editor, Publishing)/India Today)
By India Today Web Desk: Industrialist Gautam Adani spoke to India Today about several…
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Adani Group company VCPL has picked up 8.27% stake via open offer, says NDTV
Adani Group company VCPL has picked up 8.27% stake via open offer, says NDTV
News broadcaster has disclosed that Adani Group firm Vishvapradhan Commercial Private Limited (VCPL) has acquired 8.27% of stake in the company in the recently concluded open offer.
The total shareholding of Adani has increased to 37.45% with the closure of the open offer. The open offer was triggered after VCPL acquired a 99.5% stake in RRPR Holding Private Limited (RRPR) which translated to…
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Indian Journalist Ravish Kumar Resigns From NDTV Following Adani Takeover; Acclaimed Anchor Was Profiled In Toronto Award-winning Doc ‘While We Watched’
Indian Journalist Ravish Kumar Resigns From NDTV Following Adani Takeover; Acclaimed Anchor Was Profiled In Toronto Award-winning Doc ‘While We Watched’
Award-winning Indian journalist Ravish Kumar has stepped down from his role at broadcaster NDTV, which is in the process of a hostile takeover by Indian billionaire Guatam Adani.
His resignation came one day after NDTV co-founders Prannoy and Radhika Roy resigned as directors of RRPR Holding, one of the backers of NDTV. On November 22, the Adani Group started the process of acquiring an…
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NDTV promoter transfers 99.5% stake to Adani's VCPL; founders quit
New Delhi Television's (NDTV) promoter company RRPR Holding has transferred 99.5% of its equity shares to the Adani group-owned Vishvapradhan Commercial (VCPL), taking billionaire Gautam Adani a step closer to taking over one of India's biggest broadcasting houses. The transaction was in consonance with a conversion notice issued by VCPL on 23 August 2022, media reports said.
NDTV founders Prannoy Roy and Radhika Roy have also resigned as directors of the promoter group vehicle RRPRH with immediate effect, the company said in a regulatory filing. The board of RRPR Holding also approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan as Directors on its board with immediate effect, NDTV said.
The share transfer will give Gautam Adani a 29.18% stake in NDTV. The port-to-power conglomerate led by Adani has another open offer for another 26% stake in the media group.
"We hereby inform you that VCPL has received a letter from RRPR Holding Private Limited ('RRPR') (through its lawyer) dated 28 November 2022, confirming to issue equity shares constituting 99.5% of its equity capital to VCPL on November 28, 2022," said Adani Enterprises in its regulatory filing, LiveMint reported.
The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78% of the issue size of 16.7 million shares, so far, the exchange data showed.
NDTV has three national news channels – NDTV 24×7, NDTV India and NDTV Profit, besides having a strong online presence.
A decade ago, NDTV founders Radhika and Prannoy Roy took a Rs 4 billion ($49.00 million) loan from a company that Adani acquired in August. In exchange, they issued warrants that allowed the company to acquire a 29.18 per cent stake in the news group.
(This article was updated on 30 November to include the resignation of the NDTV founders)
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Adani open offer: Nearly 28 lakh NDTV shares tendered by day 3 - Times of India
Adani open offer: Nearly 28 lakh NDTV shares tendered by day 3 – Times of India
NEW DELHI: Nearly 28 lakh shares were tendered by shareholders of NDTV under the Adani group‘s open offer at the end of the third day on Thursday. Adani group’s open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) started on Tuesday. According to the data from BSE, a total of 27,72,159 NDTV shares amounting to 16.54 per cent of the offer size were…
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#AdaniBuysNDTV : What is an Open Offer?
#AdaniBuysNDTV : What is an Open Offer?
On October 17, the Adani Group will launch an open offer to acquire 26% shares of NDTV. If the public shareholders of NDTV accept this offer, the Adani Group will become a 55% stakeholder in delhi-based media company.
On August 23, the Adani Group indirectly acquired 29.18 % shares of NDTV. According to SEBI rules, that acquisition triggers an ‘open offer’ to the shareholders to sellout their…
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Adani and NDTV Take Over
Adani and NDTV Take Over
Gautam Adani-led Adani Group on August 23, 2022 acquired 29.18 per cent stake in the television channel NDTV Ltd, stating that it would launch an open offer as required by the Securities and Exchange Board of India (SEBI) to buy another 26 per cent in the company.
NDTV; HOW THIS HAPPENED?
Adani Enterprises Ltd’s subsidiary AMG Media Networks Ltd bought Vishvapradhan Commercial Pvt Ltd (VCPL),…
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Adani and NDTV Take Over
Adani and NDTV Take Over
Gautam Adani-led Adani Group on August 23, 2022 acquired 29.18 per cent stake in the television channel NDTV Ltd, stating that it would launch an open offer as required by the Securities and Exchange Board of India (SEBI) to buy another 26 per cent in the company.
NDTV; HOW THIS HAPPENED?
Adani Enterprises Ltd’s subsidiary AMG Media Networks Ltd bought Vishvapradhan Commercial Pvt Ltd (VCPL),…
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Adani group acquires NDTV founders Roys' 27.26% equity stake
Adani group acquires NDTV founders Roys’ 27.26% equity stake
Prannoy Roy, Chairman of NDTV.
| Photo Credit: Rajeev Bhatt
The Adani Group on Friday said it has acquired a 27.26% equity stake in NDTV from Prannoy Roy and his wife Radhika Roy, founders of the news broadcaster.
“RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26% equity stake in NDTV from Prannoy Roy and Radhika Roy by way of…
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