Adani Group poised to become single-largest shareholder in NDTV

Adani Group poised to become single-largest shareholder in NDTV

Adani Group, a business conglomerate, is poised to become the single-largest shareholder in media giant New Delhi Television Limited NDTV as the open offer closed on Monday saw a total of 5.33 million equity shares being offered.

The total equity capital of NDTV is 8.3 percent of the total equity capital of 5.33 million equity shares that were offered in the open offer.

Of the 16.76 million shares, 5.33 million or 32 per cent of the total offer size was offered, even though the offer price was pegged at 294 per share, while the prevailing rate in the market is 393.90, as on December 5, the last day of the open offer.

The shareholders of NDTV include little known names such as Confirm Realbuild, Adesh Broking House, Grid Securities and Drolia Agencies that own more than one per cent each, with their cumulative holding pegged at 7.13 per cent or close to 4.6 million shares.

Only Drolia Agencies and Adesh Broking House have held the shares for at least a year, while the other two entities are new entrants.

On November 29th, both Prannoy Roy and Radhika Roy resigned from the board of RRPR Holdings. Media veterans Sanjay Pugalia and Senthil Chengalvarayan along with Sudipta Bhattacharya CEO of Adani Group North America and CTO, Adani Group were appointed directors in the firm.