Adani group already holds around 37% stake in the news network via its open offer and acquisition of a company owned by the founders. It is to be noted that even after their stake sale Radhika and Prannoy Roy will still retain a combined 5 % stake in the News network that they founded in 1988.
Billionaire Gautam Adani’s conglomerate will now have a controlling stake of approximately 65 percent in New Delhi Television Ltd (NDTV) after founders of NDTV Prannoy Roy and Radhika Roy said in a statement on Friday that they have decided to transfer most of their stake in the news network to the billionaire. Accordingly, Radhika and Prannoy Roy will transfer 27.6% of their stake in NDTV to a Gautam Adani-led entity; giving it a 64.71% stake holding in the news network shows the regulatory filing by NDTV.
Adani group already holds around 37% stake in the news network via its open offer and acquisition of a company owned by the founders. It is to be noted that even after their stake sale Radhika and Prannoy Roy will still retain a combined 5 % stake in the News network that they founded in 1988.
“The AMG Media Network, after the recent open offer, is now the single largest shareholder in NDTV. Consequently, with the mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media Network,” the founders said in a statement. “Since the open offer was launched, our discussions with Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness,” they added.
Read More-NDTV shares are still rising as the Adani group takes over.
