New Delhi: Asia’s richest businessman Gautam Adani acquired 29.18% stake in news channel NDTV. Adani Group announced this on Tuesday evening.
After a while NDTV said that they were not aware of any such deal. All this has happened without informing or asking them.
Actually, NDTV’s founder Pranay and Radhika Roy had taken a loan of about Rs 400 crore in 2009. Due to this loan, Adani Group is going to get 29.18% stake in this media house. Adani Group will also make an open offer of Rs 493 crore for an additional 26% stake at Rs 294 per share, after which its total stake can be 55%.
5 companies are involved in this deal:
1. New Delhi Television Limited (NDTV)
2. RRPR Holding Private Limited
3. Vishwapradhan Commercial Private Limited (VCPL)
4. AMG Media Network Limited (AMNL)
5. Adani Enterprises Limited (AEL)
RRPR Holding Private Limited is the promoter company of NDTV. Vishwapradhan Commercial Private Limited (VCPL) is a subsidiary of AMG Media Network Limited (AMNL). VCPL was acquired by Adani Group for Rs 113.75 crore.
AMG Media Network Limited (AMNL) is a subsidiary of Adani Enterprises Limited (AEL). Adani Enterprises Limited (AEL) is the flagship company of the Adani Group. Accordingly, the control of Vishwapradhan Commercial Private Limited (VCPL) is with Adani Enterprises.
This deal has been executed only through a warrant. Warrant is a type of financial contract. Companies use it to raise funds. It gives investors the right to buy or sell certain shares of that company at a specified price before expiry. A warrant giving the right to buy shares is called a call warrant; Those giving the right to sell shares are known as put warrants, experts said.
Meanwhile, NDTV share price has seen a rise of over 3% today to Rs 380 apiece on BSE, after Adani group made an announcement to acquire a controlling stake in the television news network on Tuesday.