Adani Unit Acquires NDTV Indirectly | ET Now | Business News | Latest News

Adani Enterprises’ unit AMG Media acquired a 100% stake in Vishvapradhan Commercial (VCPL) for an enterprise value of Rs 113.7 crore. VCPL owns warrants of RRPR Holding – promoter entity of NDTV. RRPR Holding owns a 29.18% stake in NDTV
With VCPL exercising its right to convert the warrants into equity shares which will translate into a 99.5% stake in RRPR Holding and as there is a change in guard in the promoter entity, an open offer has been made to the public shareholders of NDTV. The open offer is to acquire a 26% stake from public shareholders of NDTV at Rs 294/share – a discount of 20% compared to the current market price.
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