After the Adani Group’s purchase of VCPL in August, the group announced to buy another additional 26 percent stake in NDTV public shareholders via an open offer. RRPR that holds 29.18% of the shares in NDTV had issued warrants to the VCPL consenting it to convert the warrants into a 99.9% ownership stake in RRPR in case the loan wasn’t repaid. Thus; as a result of warrants exercised, VCPL acquired a 99.5 percent stake in RRPR Holdings.
NDTV, the leading news broadcaster in the country announced on December 19 that Adani Group firm Vishvapradhan Commercial Private Limited (VCPL) has acquired 8.27% of equity shares of NDTV via the recently concluded open offer that was triggered when Adani Group’s firm VCPL acquired 99.5% of RRPR Holding Private Limited (RRPR). It is to be noted that RRPR holds 29.18% of the shares in the NDTV.
As of today; Prannoy Roy owns 15.94% of equity shares in the company, and Radhika Roy holds 16.32%. Promoter or promoter group shareholding amounts to 69.71% in the company.
After the Adani Group’s purchase of VCPL in August, the group announced to buy another additional 26 percent stake from NDTV’s public shareholders via an open offer. RRPR that holds 29.18% of the shares in NDTV had issued warrants to the VCPL consenting it to convert the warrants into a 99.9% ownership stake in RRPR in case the loan wasn’t repaid. Thus; as a result of warrants exercised, VCPL acquired a 99.5 percent stake in RRPR Holdings.
The newly appointed board of directors of RRPR are Sudipta Bhattacharya, Senthil Sinniah Chengalvarayan, and Sanjay Pugalia. NDTV’s promoter group vehicle RRPR Holding said in an exchange filing on November 28 that it had issued shares to VCPL, constituting 99.5% of its equity capital.
