Adani Group acquires NDTV Memes

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.

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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,

“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.

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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,”

Adani group Acquire NDTV

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:

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Ananya Bose
A postgraduate from Jadavpur University, Kolkata, Ananya is a passionate writer with an experience of three years in Content Writing. She is known for her insightful research, in-depth knowledge, and engaging writing style. Her attention to detail and ability to capture the attention of the readers is worth mentioning. She is enthusiastic about the entertainment industry and is passionate about writing on TV, Bollywood, and celebrity gossip. She is also well-versed in search engine optimization (SEO) techniques and can adapt her writing style for the target audiences.
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