Private Equity

PE Fund Investments

Adani Group acquires 29.18% in NDTV; makes open offer for 26%

BSE Disclosure   Mint  

Vishvapradhan Commercial Pvt Ltd (VCPL), a wholly owned subsidiary of AMG Media Networks Ltd (or AMNL, which in turn is a 100% subsidiary of Adani Enterprises Ltd or AEL), has acquired 99.5% of the equity shares of RRPR Holding Pvt Ltd, a promoter entity of publicly listed media firm NDTV. RRPR holds 29.18% stake in NDTV which operates three television news channels and a digital platform. VCPL, along with AMNL and AEL, will launch an open offer to acquire an additional 26% stake in NDTV from public shareholders. In May, AMNL had also bought a 49% stake in Raghav Bahl-promoted digital business news platform Quintillion Business Media Pvt Ltd.