The media division of the Adani Group, AMG Media Networks Limited (AMNL), will indirectly purchase a 29.18 percent share in NDTV. The purchase would be conducted through Vishvapradhan Commercial Private Limited (VCPL), a fully owned subsidiary of Adani Enterprises Ltd.-controlled AMG Media Networks Limited (AMNL) (AEL).
According to a press release, VCPL has exercised its right to purchase “99.5 percent of the equity shares of RRPR Holding Private Limited,” a promoter group firm of NDTV that owns 29.18 percent of the media group. According to SEBI’s takeover regulations, this will result in an open offer to purchase up to a 26 percent share in NDTV, the business stated. In accordance with the 2011 SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, VCPL, AMNL, and Adani Enterprises Ltd. “shall launch an open offer to purchase up to 26 percent equity in NDTV,” the announcement stated.