Top 10 facts of Adani and Media House NDTV

adaniAdani Group

Adani propose and open offer for acquiring an additional 26 percent stake in media house from New Delhi Television Ltd (NDTV) from October 17 to November 1, JM Financial, which is managing the offer, said in the Draft Letter of Offer (DLOF) filed with the Sebi on September 7, 2022.

Proposal for  open offer for acquiring of up to 1.67 crore equity shares, for which a price of Rs 294 per share ,amounting to Rs 492.81 crore, with fully subscribed.


Gautam Adani, MD Adani Group on August 23 present plans to acquire a majority stake in the news network, through the acquisition of VCPL, which holds a 99.99 percent stake in RRPR Holding, a promoter entity of NDTV.

VCPL had issued a loan of Rs 403.85 crore to RRPR Holding in 2009-10. Against this amount, convertible warrants were issued to the lending entity by RRPR, which holds a 29.18 percent stake in the news channel company.

With the warrants, VCPL had the right to convert them into a 99.9 percent stake in RRPR in case the loan was not repaid. Adani Group first acquired VCPL from its new owner and exercised the option to convert unpaid debt into a 29.18 percent stake in NDTV.

Adani was born on 24 June 1962 in a Gujarati Jain family to Shantilal Adani (father) and Shantaben Adani (mother) in Ahmedabad, Gujarat.

Adani Power was founded by Adani which is the power business arm of the Adani Group in 1996. It holds thermal power plants of around 4620 capacity and is the largest thermal power producer in the country. He also entered the power generation business in 2006.

Over the years, Adani Group has positioned itself to be the market leader in its transport logistics and energy utility portfolio businesses focusing on large scale infrastructure development in India with O & M practices benchmarked to global standards.

Companies
  • Adani Enterprises.
  • Adani Green Energy.
  • Adani Ports & SEZ.
  • Adani Transmission.
  • Adani Total Gas.
  • Adani Power.
  • Adani Wilmar.
Now its time to add in above list is NDTV.


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