AMG Media Networks Limited (“AMNL”), a wholly owned subsidiary of Adani Enterprises Limited (“Company”), through its subsidiary Vishvapradhan Commercial Private Limited (“VCPL”), has acquired 99.5% of the participation of RRPR Holding Private Limited (“RRPR”). ‘), a promoter company of New Delhi Television Limited (‘NDTV’).
RRPR is a promoter group company of NDTV (NDTV, BSE: 532529) and holds 29.18% stake in NDTV
Adani group companies on Tuesday made a bid to acquire 26% stake in New Delhi Television Ltd (NDTV) following the indirect acquisition of 29.18% stake in the media and news chain.
Three companies, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd have offered a price of Rs 294 each for the acquisition of up to 1,67,62,530 fully paid up equity shares of NDTV of Rs 4 face value. of public shareholders.
JM Financial Ltd, which is managing the offer on behalf of the purchasers, has made a public announcement.
“The offer price is higher than the price determined under Regulation 8(2) of SEBI Regulations (SAST),” the offer said.
Shares of NDTV settled at Rs 366.20 on the BSE on Tuesday, up 2.61 percent from the previous close.
Its revenue for the financial year ended March 31, 2022 was Rs 230.91 crore.
“This acquisition is a significant milestone on the way to AMNL’s goal of paving the way for new age media across platforms,” stated Sanjay Pugalia, CEO, AMG Media Networks Limited. “AMNL aims to empower Indian citizens, consumers and stakeholders in India, with information and knowledge. With its leadership position in news and its strong and diverse reach across genres and geographies, NDTV is the best-suited broadcast and digital platform to fulfill our vision. We look forward to strengthening NDTV’s leadership in news delivery.”
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