Adani buys 50.5% stake in newswire IANS

Publicly listed Adani Enterprises' subsidiary AMG Media Networks has acquired a 50.5% stake in newswire services provider IANS India Pvt Ltd for INR 5.1 lakh. IANS' promoter Sandeep Bamzai will sell the remaining stake over time. IANS had reported a turnover of INR 11.86 crore for FY23. With this acquisition, Adani Group owns three media properties - the NDTV broadcasting network, Quintillion Business, which operates the business and financial news digital media platform BQ Prime, and now IANS.