Adani Group founder, Gautam Adani has set the ball rolling to acquire a controlling stake of 55.18% in New Delhi Television (NDTV). With a concept to carry 55.18 per cent stake in NDTV, the Adani group has issued an open provide for a 26 per cent stake within the information channel at Rs 294 for a share with a face worth of Rs 4. The complete outlay for 26 per cent, or 16,762,530 totally paid up fairness shares of NDTV – if the provide is accepted in full – will likely be about Rs 483 crore for the Adani group.
According to Adani group, the stake acquisition will likely be in two modes:
- Firstly, it is going to be by way of Vishvapradhan Commercial Private Ltd (VCPL).
- And then VCPL, its wholly-owned guardian AMG Media Networks and Adani Enterprises Ltd (individuals appearing in live performance).
- The VCPL holds 1,990,000 warrants of RRPR Holding entitling it to transform them into a 99.99 per cent stake within the latter.
- The VCPL has exercised its choice partly, leading to the acquisition management of RRPR Holding – 1,990,000 fair shares or 99.50 per cent.
- RRPR Holding holds a 29.18 per cent stake in NDTV which has three nationwide tv channels.
Important takeaways for all competitive exams:
- NDTV Founders: Prannoy Roy, Radhika Roy;
- NDTV Founded: 1988;
- NDTV Headquarters: New Delhi.