News broadcaster NDTV announced on December 19 that Adani group company Vishvapradhan Commercial Private Limited (VCPL) had acquired an 8.27% stake in the company in a recently concluded public offering.

The public offer was triggered when VCPL acquired 99.5% of RRPR Holding Private Limited (RRPR). RRPR holds a 29.18% stake in NDTV.

Prannoy Roy owns 15.94% of the company, while Radhika Roy owns 16.32%. The Promoter/Promoter Group holds 69.71% of the shares.

Following the Adani Group’s acquisition of VCPL in August, the group announced a public offer to buy an additional 26% stake in NDTV from public shareholders.

RRPR has issued warrants to VCPL, allowing it to convert them into a 99.9% interest in RRPR without repaying the loan. VCPL has acquired a 99.5% stake in RRPR Holdings through the exercise of warrants.

Sudipta Bhattacharya, Senthil Sinniah Chengalvarayan and Sanjay Pugalia have been appointed to the RRPR board.

RRPR Holding, the promoter group operator of NDTV, informed the exchange on November 28 that it had issued shares to Vishvapradhan Commercial, representing 99.5% of its share capital.

“The issuance of these shares is in line with the conversion notice dated August 23, 2022, after the expiry of the two-year restraint imposed by the Securities and Exchange Board of India (SEBI) on securities trading matters on November 26, 2022,” NDTV informed the exchange.