Team News Riveting
Ahmedabad, August 23
AMG Media Networks Limited (AMNL)’s wholly owned subsidiary Vishvapradhan Commercial Private Limited (VCPL) holds warrants of RRPR Holding Private Limited (RRPR) entitling it to convert them into 99.9 per cent stake in RRPR.
RRPR Holding Private Limited is a promoter group company of NDTV while AMNL is 100 per cent subsidiary of Adani Enterprises Limited (AEL).
VCPL has exercised warrants to acquire 99.5 per cent stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR.
RRPR holds 29.18 per cent stake in NDTV. VCPL, along with AMNL and AEL (persons acting in concert), will launch an open offer to acquire up to 26 per cent stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
NDTV is a leading media house which has pioneered the delivery of credible news for over three decades. The company operates three national news channels – NDTV 24×7, NDTV India and NDTV Profit. It also has strong online presence and remains one of the most followed news handles on social media with more than 35 million followers across various platforms.
NDTV recorded a Revenue of Rs 421 crore with an EBITDA of Rs 123 crore and Net Profit of Rs 85 crore in FY22 with negligible debt.
“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms” stated Sanjay Pugalia, CEO, AMG Media Networks Limited. “AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform to deliver on our vision. We look forward to strengthening NDTV’s leadership in news delivery.”
