After founders Prannoy Roy and Radhika Roy sold a 27.26% stake in NDTV to an Adani unit for Rs 602 crore in several block deals, Gautam Adani took majority control of New Delhi Television (NDTV).
On 30 December 2022, Adani Enterprises, through its indirect subsidiary, RRPR Holdings, acquired an additional 17.6 million shares of NDTV for Rs 342.65 apiece from the Roys.
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A nearly 17% premium to minority shareholders was offered in an open offer that ended on 5 December, increasing Adani’s stake in NDTV to 64.7%.
NDTV’s shares hit a high of 0.1% to Rs 345.60 on BSE on 30 December 2022.
Gautam Adani, founder and chairman of Adani Group, said, “Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organisation.”
