NDTV founders to sell most of their holdings to Adani Group
New Delhi Television Ltd (NDTV) founder Prannoy Roy and his wife Radhika Roy announced Friday that they have decided to sell most of their shares in the company to billionaire Gautam Adani. According to NDTV’s regulatory filings, Radhika and Prannoy Roy will sell 27.26% of their remaining 32.26% stake in NDTV to a company owned by Adani to acquire 64.71% of NDTV.This follows Adani Group becoming the largest shareholder of his NDTV. After first acquiring a founder-backed company and then taking more shares on the public market.
Adani, the founder of Asia’s richest Adani Group, held more than 37% of NDTV through public tenders and previous acquisitions of founder-owned companies. AMG Media Networks is now the single largest shareholder of NDTV following a recent tender offer. As a result, by mutual consent, we have decided to sell most of our NDTV shares to his AMG Media Networks, said the founders in a statement to the stock exchange. Since the start of the open offer, discussions with Gautam Adani have been constructive. All the suggestions we made were accepted by him positively and openly,” they added. NDTV brings a media presence to the Adani Group as part of the Adani Group’s broader diversification trajectory. This will allow the conglomerate to expand beyond coal mines and ports into airports, data centers, cement and digital services. NDTV brings a media presence to the Adani Group as part of the Adani Group’s broader diversification trajectory. This has pushed the conglomerate beyond coal mines and ports to include airports, data centers, cement and digital services.
