Gautam Adani acquires NDTV founders Roys’ 27.26% equity stake
New Delhi, December 30: The Adani Group announced on Friday that it had acquired a 27.26 percent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy, the news broadcaster's founders.
"RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," Adani Enterprises said in a regulatory filing.
Prannoy Roy and Radhika Roy announced on December 23 that they would sell 27.26 percent of their remaining 32.26 percent stake in NDTV to the Adani Group.
"Vishvapradhan Commercial Private Limited (an indirect subsidiary of the company) holds 8.27 percent equity stake in NDTV and RRPR (prior to the present acquisition) held 29.18 percent equity stake in NDTV. Consequent to the present acquisition, RRPR will hold 56.45 per cent," the filing further added.
Adani Group has purchased Roys' shares for Rs 342.65 per share. Based on this price, the Roys could have made up to Rs 602.3 crore from the sale of 1.75 crore shares.
"The acquisition was completed on December 30, 2022, on the block deal window of NSE," it said.
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