Prannoy Roy and Radhika Roy have resigned as the directors of the board of RRPRH, the promoter group of NDTV. In a exchange filing, NDTV informed that Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan have been appointed directors on the board of RRPRH with immediate effect.
This comes just a day after a promoter firm of media giant RRPR Holding Private Limited issued equity shares that comprise 99.5 per cent of its equity share capital to Vishvapradhan Commercial Private Limited VCPL, which was acquired by Adani. The Adani GroupAdani Group took over a 29.18 per cent stake in NDTV with this.
VCPL is a wholly owned subsidiary of AMG Media Networks, which houses the media business of the Adani Group.
The Adani GroupAdani Group has acquired 29.18 per cent of NDTV and has launched an open offer to buy another 26 per cent stake in the media firm. There were 39.35 lakh equity shares offered last Friday, representing 23.48 per cent of the maximum offer size of nearly 1.68 crore equity shares.