Adani Group Is Now NDTV’s Biggest Shareholder

New Delhi: The Adani Group announced on Friday that it had acquired a 27.26% equity stake in NDTV from Prannoy Roy and Radhika Roy (the “Sellers”) through an intra-group transfer in accordance with the Securities and Exchange Board of India’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011).

RRPR is an indirect subsidiary of Adani Enterprises and a member of the promoter/promoter group of NDTV. RRPR will now own 56.45% of the equity in NDTV as a result of the current acquisition, according to the statement provided to the stock exchanges.

The NDTV founders had proposed to transfer 27.26 per cent of their shares in the media company to the Adani Group.

According to NDTV’s earlier stock exchange filing, Radhika and Prannoy Roy had proposed selling 13.44% and 13.82%, respectively, of NDTV to RRPR Holding.

Following an open bid and an earlier acquisition, the Adani Group owned 37% of NDTV as of December 23.