Adani Group to own 64.72% in NDTV

Adani Group to own 64.72% in NDTV: Prannoy and Radhika Roy to sell most of their shares to Gautam Adani

Dec 24, 2022 - 09:42
Adani Group to own 64.72% in NDTV

New Delhi Television Limited (NDTV) founders Prannoy Roy and Radhika Roy will transfer almost all their shares (27.26%) in NDTV to Adani Group. After this, he will be left with only a 5% stake. On Friday, he gave this information in the exchange filing. The transfer will increase Adani Group's stake to 64.72% from the current 37.45%.
Radhika-Pranay said that they started NDTV in the year 1988 with the belief that journalism in India is world-class but needed a strong and effective broadcast platform to allow it to grow and shine. He said that after 34 years, he believes that NDTV is an institution that has fulfilled a lot of his hopes and ideals.
Radhika-Pranay revealed that AMG Media Network is now the largest shareholder in NDTV after the recent open offer. Consequently, by mutual agreement, we have decided to sell the majority of our shares in NDTV to AMG Media Network. He said that his discussions with Gautam Adani since the launch of the open offer have been positive.
Radhika-Pranay said that Gautam Adani has accepted all their suggestions positively and with openness. Gautam Adani has invested in a brand that is synonymous with trust, reliability and independence and we hope he will uphold these values. Adani Group bought a 29.18% stake in NDTV in August.

Muskan Kumawat Journalist & Writer