Categories: Business

Indian Billionaire Gautam Adani to Control Nearly 65% of NDTV

Indian Billionaire Gautam Adani is to control 64.71% of New Delhi Television Ltd (NDTV) as the founders have decided to sell most of the shares. The founders of NDTV, Prannoy Roy and his wife Radhika Roy have decided to transfer most of the shares in the company giving Gautam Adani his conglomerate control of about 65% of NDTV. The decision comes after four months after Gautam Adani announced his takeover of the news channel.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Indian Billionaire Gautam Adani to Control Nearly 65% of NDTV- Key Points

  • Radhika Roy and Prannoy Roy will sell a 27.26% stake of their remaining 32.26% shareholding in NDTV.
  • Gautam Adani already holds 37% of shares after an open offer and an acquisition of NDTV.
  • Adani Group will become the single largest shareholder in NDTV after first buying out a firm backed by the founders and then acquiring more shares from the open market.
  • Radhika and Prannoy Roy will have a combined 5% stake in NDTV.
  • Last month, NDTV announced the resignation of the founders Radhika Roy and Prannoy Roy from the RRPR board, however, they continued on the NDTV board.

About New Delhi Television Ltd

New Delhi Television Ltd or NDTV is an Indian news media company that was founded in 1984. The founders of NDTV are economists Prannoy Roy and Radhika Roy. The husband-and-wife duo is from Kolkata. In August 2022, the Adani Group launched a hostile bid to take over NDTV.

Also Read: Adani Green becomes World’s Largest Wind-Solar Hybrid Power Developer

priyankadasgupta

Recent Posts

National Mathematics Day 2024: Celebrating Srinivasa Ramanujan

Every year on December 22, India celebrates National Mathematics Day. This date marks the birth…

18 hours ago

Current Affairs Flash 22nd December Based Quiz

In competitive exams like SSC, Defence, State Exams, and Railways, current affairs are crucial. This…

24 hours ago

Ukraine Strikes Russian High-Rises in Kazan: 9/11-like Attack

On Saturday, December 21, 2024, several explosive-laden drones, believed to be part of Ukraine's ongoing…

2 days ago

Which District of Uttar Pradesh is Known as the Moonj City?

Uttar Pradesh, one of India's most populous states, is known for its rich cultural and…

2 days ago

55th GST Council Meeting: Key Highlights and Proposals

The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, convened ministers from 28…

2 days ago

24th BIMSTEC Senior Officials Meeting (SOM)

India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand on…

2 days ago