Adani Enterprises acquires 27.26% stake in NDTV through an indirect subsidiary; Stock gains 1%

30 Dec 2022 , 01:06 PM

Adani Enterprises Limited has informed on Friday that that RRPR, an indirect subsidiary of the Company has acquired 27.26% equity stake in NDTV from Prannoy Roy and Radhika Roy for Rs342.65 per share. The transfer of shares was done through by way of inter-se transfer under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 

Vishvapradhan Commercial Private Limited (an indirect subsidiary of the Company) holds 8.27% equity stake in NDTV and RRPR (prior to the present acquisition) held 29.18% equity stake in NDTV. Consequent to the present acquisition, RRPR will hold 56.45% equity stake in NDTV, the company said in a regulatory filing.

The acquisition was completed on December 30, 2022 on block deal window of NSE and the settlement is subject to exchange procedures and formalities.

At around 1:12 PM, Adani Enterprises was trading at Rs3855.15 per share higher by 1.19% on the BSE.

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