Adani Group will buy 29.18% stake in NDTV Media Group. The deal will be done through Adani Group's company AMG Media Network. AMG Media Network Limited (AMNL) has been said to buy a stake through subsidiary VPCL. Adani Media Network CEO Sanjay Puglia gave this information by issuing a letter.
It has also announced an open offer for up to 26 percent stake in NDTV for Rs 294 per share. The share price of NDTV closed at Rs 366.20 on BSE on Tuesday.
The warrant exercise has been hand-delivered to the RRPR team and acknowledgment was obtained on the original and the warrant exercise money has been remitted to RRPR's bank account before the press release was sent to the stock exchanges.
The statutory announcement for the open offer for acquiring 26 percent of NDTV shares has also been filed with the stock exchanges.
The majority of the deals the Adani Group has made in the past year involve green energy and infrastructure firms. These include from cement to ports and energy projects. The largest cement manufacturer in the world, Holcim, recently sold its stake of Ambuja and ACC cement companies to the Adani Group for roughly 81 thousand crore rupees.