Adani’s stake in NDTV: Adani Group announced to take 29% stake; After two hours, the CEO of NDTV said – we did not talk to us

Asia’s richest businessman Gautam Adani is going to buy 29.18% stake in NDTV. The Adani Group announced this on Tuesday evening. This indirect stake will be taken through Vishwapradhan Commercial Private Limited (VCPL), a subsidiary of AMG Media Network Limited (AMNL). AMG Media is a subsidiary of Adani Enterprises Limited (AEL).

Adani Group informed about buying 29.18% stake in NDTV through this letter.

Adani Group will also make an open offer of Rs 493 crore for an additional 26% stake in NDTV at Rs 294 per share. AMNL CEO Sanjay Puglia said, “This acquisition is a milestone. AMNL seeks to empower Indian citizens, consumers and those interested in India with information and knowledge. NDTV is the best broadcast and digital platform to fulfill our vision.

NDTV CEO said two hours after Adani’s announcement – ​​we don’t even knowAdani Group announced its stake in NDTV at around 6.10 pm in the evening. About two hours later, the CEO of NDTV issued an internal mail saying that the news of Adani taking a stake in the media group is shocking. We were neither informed nor discussed about this. The CEO of the group has also talked about taking regulatory and legal steps in this matter.

The inside story of the deal between Adani Group and NDTVAMNL’s subsidiary (wholly owned subsidiary) VCPL holds a warrant from RRPR Holding Pvt Ltd, which entitles them to convert 99.99% stake in RRPR. Warrant means a financial contract, which gives the right to buy or sell equity at a certain price before expiry.

VCPL has exercised the same warrant to acquire 99.5% stake in RRPR. The promoter group company of NDTV is RRPR, which holds 29.18% stake in NDTV. Based on this, the Adani Group has indirectly got 29.18% stake in NDTV.

VCPL along with AMNL and AEL has also said to launch an open offer to acquire 26% stake in NDTV at Rs 294 per share. As per SEBI’s 2011 regulation, Adani Group companies will launch these open offers.

NDTV has three TV channels, strong online presenceNDTV is a leading media house in India, which operates three National News Channels – NDTV 24×7, NDTV India and NDTV Profit. It also has a strong online presence and is one of the most followed news handles on social media with over 35 million followers across different platforms.

Prannoy and Radhika hold 32.26% direct stake in NDTVPrannoy Roy and Radhika Roy hold the largest stake in NDTV. Together, the two have a direct stake of 32.26% in the group. At the same time, the RRPR company that Adani Group has said to buy is also under the ownership of Prannoy and Radhika. You can know about the individuals, companies and groups holding more than 5% stake in NDTV Group through the graphic below…

Adani Group has done 32 deals worth 1.31 lakh crore in last one year
After investing in coal and infrastructure projects for a long time, the Adani Group is now diversifying its business by acquiring companies ranging from rice to travel portals, media, green energy and cement. According to data compiled by Bloomberg, the group has done more than 32 deals worth Rs 1.31 lakh crore in the last year. It is now one of the largest trading groups in the Asia-Pacific region.

Adani focusing on infrastructure and green energy companiesMost of the deals the Adani Group has done over the past year are infrastructure and green energy companies. These include from cement to ports and energy projects. Recently, the Adani Group bought stake in Ambuja and ACC cement companies from Holcim, the world’s largest cement company, for about Rs 81 thousand crore. You can know about the seven big deals done by the Adani Group in the last one year through this graphic…

In April this year, AMG company was formed for the media business.Adani Group had formed a company named AMG Media Network Limited on April 26, 2022. In this, provision of initial authorized and paid-up share capital of one lakh rupees has been made for running the media business. Through this, many media related projects including publishing, advertising, broadcasting will be handled.