India’s richest person Gautam Adani is now preparing to enter the business of TV media. Adani Group is going to buy 29.18 percent stake in NDTV. Apart from this, the Adani Group company will come up with an open offer for 26 percent stake. Adani Group’s media company AMG Media Network Limited (AMNL) will indirectly buy 29.18 percent stake in NDTV.
acquisition of shares
The acquisition will be done through Vishwapradhan Commercial Limited (VPCL), a wholly owned subsidiary of AMG Media Network Limited. AMG Media Network Limited is owned by Adani Enterprises. Vishwapradhan Commercial Private Limited will acquire 99.5% equity shares of RRPR Holding Private Limited (RRPR), the promoter group company of NDTV.
493 crore open offer
Adani Group said in a statement- ‘AMG Media Network Limited will acquire 29.18 percent stake in New Delhi Television Limited (NDTV). Will initiate an open offer for another 26 per cent stake in the media house. Adani Group has made an open offer of Rs 493 crore for 26 per cent stake in NDTV at Rs 294 per share. The shares of the media company closed today at 376.55, up about 3 percent.
how to buy
As per the press release, VPCL had the right to buy 99.5 per cent stake in RRPR Holding Pvt Ltd. This company holds 29.18 per cent stake in NDTV, which Adani Group is going to buy. Adani Group said that an open offer will be brought to buy a separate 26 percent stake.
Sanjay Puglia, CEO and Senior Journalist, AMG Media Network, said in a statement – The acquisition of NDTV will prove to be an important milestone in the growth of the media industry.
Three firms will acquire together
VCP has made an offer of Rs 294 for acquisition of 1,67,62,530 paid up equity shares of NDTV from a public shareholder together with AMG Media Networks Limited and Adani Enterprises Limited. Its value is Rs 4. In the last financial year, NDTV has registered a revenue of Rs 421 crore with EBITDA of Rs 123 crore and a net profit of Rs 85 crore in FY 2022.