Adani Group to purchase 29.18% stake in media group NDTV
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India
oi-Deepika S
New Delhi, Aug 23: Adani Enterprises announced that it would purchase a 29.18 percent stake in New Delhi Television Ltd (NDTV).
“AMNL’s wholly owned subsidiary VCPL holds warrants of RRPR Holding Private Limited (RRPR) entitling it to convert them into 99.99% stake in RRPR. VCPL has exercised warrants to acquire 99.5% stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR. RRPR isa promoter group company of NDTV (NDTV, BSE: 532529) and holds 29.18% stake in NDTV,” the statement read.
“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms,” said Sanjay Pugalia, CEO, AMG Media Networks Limited.
“AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform.”
Story first published: Tuesday, August 23, 2022, 18:35 [IST]
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