Gautam Adani to Acquire NDTV 29% Stake | Know more

By Under20s.com

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Gautam Adani who is the richest person of Asia, is now going to expand his Media Business. Starting this Journey with NDTV one of Top Indian News Channels.

NDTV claims Gautam Adani unit was moved without consent

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– Adani may not be friendly to takeover -legal expert – Billionaires could be in for a heated competition if they buy NDTV.

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Indian billionaire Gautam Adani's conglomerate Tuesday stated it wants to hold a majority stake at the popular New Delhi Television (NDTV.NS).

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The move, which the TV news group claimed was made without its consent, was confirmed by the Conglomerate.

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Vijay Shekhar Sharma Going to Face Floor Test

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Adani Group's unit claimed it used financial rights to bid for a 29.18% share in NDTV. Plans were made for an open offer for a 26% stake, in accordance with Indian regulations.

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Hours later, NDTV released a statement stating that the Adani Group's move was "executed without any input from or consent of the NDTV founders".

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NDTV, one of the best organizations in the country, is known for its critical views of the government's policies. It has three channels: NDTV India in Hindi, NDTV 24x7 English and NDTV Australia in English.

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According to NDTV, this might not be a friendly acquisition, which is generally in accordance with agreed terms and mechanisms.

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Adani Group didn't immediately respond to a request to comment on NDTV’s statement.

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Adani didn't disclose the financial details of its planned 29.18% stake, but it stated that its next open offer will be for 294 Indian Rupees ($3.68) per NDTV-share, which would amount to 4.93 billion.

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This open offer price is 20% off NDTV's Tuesday close of 369.75 Rupees. Prannoy Roy and his wife, one of India's most prominent TV news personalities, founded NDTV in 1988

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Monday's stock exchange disclosure by NDTV stated that Radhika Roy and Prannoy Ray were not in talks with any entity to change their ownership or divest their stake in NDTV.

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The statement stated that they continue to own 61.45% of NDTV both individually and through their company.

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THIS WAS THE WHOLE STORY ABOUT "Adani Buying ACC and AMBUJA for 31000 Crores" If you liked the Story you can watch more informative stories by clicking below

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