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Gautam Adani Acquires Stake in NDTV News

Gautam Adani Acquires Stake in NDTV News

Gautam Adani, Asia’s richest man, acquires stake in popular Indian news media entity NDTV.

However, the deal is indirect as they bought Vishvapradhan Commercial Pvt. Ltd (VCPL), which owned convertible debentures in RRPR Holding Pvt. Ltd that  owns 29.18% of NDTV Ltd.

As per SEBI guidelines, they have also launched an open offer to acquire an additional 26% from public shareholders

On the other hand, memes on the internet have started pouring in especially for the prime-time news anchor Ravish Kumar.

The acquisition drew immediate protests from NDTV as this happened without consulting the company itself.

NDTV also told the exchanges that  its promoters were also  not engaged in any talks for a stake sale.

This is Adani Group's second big investment in the media and entertainment business after Bloomberg Quint.

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