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Adani Group takes a step forward to acquire NDTV!

Vivid News 24: According to NDTV, without the explicit consent of SEBI, the shares of the channel cannot be transferred to the Adani Group. Now that SEBI has given its approval to Adani Group. Tycoon Gautam Adani’s business may initiate the necessary process to acquire 26% stake in the television network, according to SEBI’s website.

On November 22, the process of buying those shares from the open market will begin. Continues till 5th December. According to sources, Adani initially planned to start the process of buying shares from the open market last month. But the group was waiting for Sebi’s approval.

Incidentally, Adani Group bought 29.18% of NDTV last August. It also made an open offer of Rs 493 crore to pick up another 26% stake from the market. With this, more than 55 percent stake in NDTV will go to Adani. They will become the company’s largest shareholder.

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As a result, the question naturally arises in this situation, then, is this juncture of Indian television going to be next month? Is the era of NDTV founder-promoter Radhika and Prannoy Roy coming to an end? NDTV had complained about the Adani group’s share purchase without any discussion with the company or its founder-promoters Radhika and Prannoy Roy.

Adani Group’s Vishvapradhan Commercial (VCPL) has sent only a notice to NDTV’s promoter company RRPR Holding to buy the stake. It has even announced that the majority of the shares will be bought. VCPL said the Adani group owns 99.5% stake in the company by exercising the ‘warrants’ they had lent to RRPR. This RRPR holds 29.18% stake in NDTV.

Note that ‘warrant’ is a type of financial transaction contract. When a company makes a loan to another company, there is often an agreement between the two parties that if the borrower fails to repay the money, the lender will have the right to take ownership of shares of equal value. This is what Adani did in RRPR to bring NDTV into their circle. After that another 26% came in from the open market.

Adani will buy 26% stake in NDTV from the open market at Rs 294 per share. The three companies of the group will buy the shares together. These include Adani Media Networks and Adani Enterprises besides VCPL. However, the share price of NDTV was Rs 383 on BSE on Tuesday. That is, Adani has offered to buy the shares at a much lower price.

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Vivid News-24 Desk
Vivid News-24 Deskhttps://vividnews24.com
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
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