The Indian multinational conglomerate, Adani group founded by billionaire Gautam Adani has a number of subsidiaries. Among its subsidiaries, AMG Media Networks Limited has been on the news as it is all set to acquire a 29.18% stake in New Delhi Television Ltd. (NDTV) and make an open offer for another 26% stake in the media house.
Adani group’s open offer for a 26% stake in NDTV is ₹294 per share which makes it a total consideration of up to Rs 492.8 crore payable in cash in terms of SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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AMG Media Networks released a statement,
“Vishvapradhan Commercial Private Limited (VCPL), a wholly owned subsidiary of AMG Media Networks Limited (AMNL), exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV,”
A promoter group company of NDTV, RRPR holds a 29.18% stake in NDTV. The open offer was launched by VCPL, along with AMNL & AEL.
Upon successful completion of the offer, Adani firm AMG Media Networks Limited (AMNL) will not only acquire a 29.18 percent stake but also take its total shareholding in NDTV NSE 3.09 % to 55.18 percent.
Sanjay Pugalia, CEO, AMG Media Networks Limited said,
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“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms”
Reports suggest that all of the existing equity shares of RRPR which is about 18,813,928 equity shares held by Prannoy Roy and Radhika Roy can be bought by Adani firm VCPL and they can acquire 100% of the equity share capital of RRPR. This represents 29.18% of the total voting equity share capital of NDTV.
With an EBITDA of Rs 123 crore and a net profit of Rs 85 crore with negligible debt NDTV recorded a revenue of Rs 421 crore in FY22.
AMNL said,
“The acquisition is in line with AMNL’s objective of setting up a credible next-generation media platform with an emphasis on digital and broadcast segments, amongst others,”
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On Tuesday, NDTV settled at Rs 376.55 apiece on BSE, the company stock registered a 5% jump
According to media reports Founder Prannoy Roy will be left with just 2.61 percent of the company.
Soon after the news broke out the hashtag NDTV started trending on Twitter in no time. Netizens shared humorous messages and memes within an hour of the news being verified. Social media was flooded with reactions and hilarious memes.
Below you can check the funny memes on NDTV’s acquisition by the Adani group on Twitter:
1.
This was only a meme until yesterday but today after Adani buys NDTV this actually happened with Ravish kumar.
Meme comes true!#Adani #NDTV #AdanibuysNDTV pic.twitter.com/hpEN9UAXgR
— CA Ashutosh Soni (@CA_AshutoshSoni) August 23, 2022
2.
The scene right now at the NDTV office#NDTV #Adani #RavishKumar pic.twitter.com/fSNeYL9pvz
— । (@jugnuhh) August 23, 2022
3.
After #Adani buys NDTV 😭 #RavishKumar pic.twitter.com/2l1303tE4K
— Peaceful (@liberalwoke_) August 23, 2022
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4.
After Adani acquiring 29.2% stake in #ndtv pic.twitter.com/Dfq6AmHaKe
— memes_hallabol (@memes_hallabol) August 23, 2022
5.
*Adani Group to purchase 29.18% stake in media group #NDTV#Adani to Ravish Kumar : pic.twitter.com/xdmRmgKvUR
— Paras Jain (@_paras25_) August 23, 2022
6.
#NDTV #Adani
This is not done…💔 pic.twitter.com/NkCqWam0uR— Aman. (@Royalrider119) August 23, 2022
7.
Gautam #Adani to Ravish Kumar and NDTV rn: pic.twitter.com/c4VVqeyHTg
— ︎︎︎ (@UtkarshHuMein) August 23, 2022
8.
Future scenes from NDTV#NDTV #Adani pic.twitter.com/7u7bAlNPmb
— BOB 🎧 (@its__BOB_) August 23, 2022
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9.
After #Adani bought NDTV
Ravish Kumar : Like Subscribe kijieyga pic.twitter.com/Letq3E3L3y
— Newton Bank Kumar (@idesibanda) August 23, 2022
10.
Adani after buying NDTV
#Adani to Ravish Kumar : pic.twitter.com/PMmd5CwJBf
— Shruti (@kadak_chai_) August 23, 2022
11.
#Adani#ravishkumar pic.twitter.com/QVCTxFfivh
— Vikash (@Vikash13314871) August 23, 2022
12.
#Adani to NDTV journalists: pic.twitter.com/I0ANlAERx8
— The Lost Guy (@TheLostGuy_) August 23, 2022
13.
As #adani is set to buy #ndtv,
Ravish Bhau be like 😅 pic.twitter.com/1HjlMshaDn
— Gaurav Shrishrimal (Kaagaz) (@1992gaurav) August 23, 2022
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14.
Soon 😁#NDTV #AdaniPower pic.twitter.com/rSeheGCkI2
— Agorl Ethaana (@ahorl_Eteena) August 23, 2022
15.
#Adani buys #NDTV :
Le Ravish kumar & Rajdeep : pic.twitter.com/ZEDOBvM62L— God (@i_m_God) August 23, 2022
16.
RW to Ravish. 😹 #NDTV pic.twitter.com/it7qblQcNJ
— Yaman (@Oye_lambu) August 23, 2022
17.
Adani group subsidiary to indirectly acquire 29.18% stake in NDTV.#AdaniGroup #NDTV #NDTVExclusive #GautamAdani #StockMarket pic.twitter.com/oHUfgeYTWL
— Priyanka Banubakode ↗️ (@PriyaBanubakode) August 23, 2022
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