New Delhi: Adani Enterprises said on Tuesday its media unit will indirectly buy a 29.18% stake in New Delhi Television Ltd and launch an open offer for another 26% stake in the media house. Adani entities made Rs 493-crore open offer for 26% stake in NDTV at Rs 294 per share. The media company’s shares closed 5% higher on Tuesday at Rs 376.55 apiece.
Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders, Business Standard reported.
A public announcement has been made by JM Financial Ltd, which is managing the offer on behalf of the acquirers.
“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms,” Sanjay Pugalia, CEO, AMG Media Networks Limited was quoted as saying. “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.”
Let’s take a look at what netizens are saying:
NDTV sold to Adani, Unbelievable! There should be a limit to what money can buy.
Not sure how this will affect the honest journalists working in NDTV but we all will surely miss the remarkable and unbiased reporting by daring Ravish Kumar if he decides to leave. 🥲
— The Poll Lady (@ThePollLady) August 23, 2022
#Adani has bought 29.18% of #NDTV‘s shares & 26% have been put for Sale in Market.
This means that total 54% of the Shares are now going out of Pranab Rai’s possession🔥
What will happen to Ravish Kumar?
I Remember How Rajdeep & Asutosh left CNN just after Ambani’s Takeover.
— The Analyzer (@Indian_Analyzer) August 23, 2022
Independent media is dead so long as BJP-RSS remains in power#NDTV #Adani pic.twitter.com/9h8bjFCEnV
— Inclusive Minds (@INClusive_Minds) August 23, 2022
After #Adani buys NDTV 😭 #RavishKumar pic.twitter.com/2l1303tE4K
— Peaceful (@liberalwoke_) August 23, 2022
NDTV viewers right now: pic.twitter.com/6U8UkpSSOc
— Yo Yo Funny Singh 🇮🇳 (@moronhumor) August 23, 2022
#NDTV #Adani
This is not done…💔 pic.twitter.com/NkCqWam0uR— Aman. (@Royalrider119) August 23, 2022
Mr Adani entering NDTV office. 😂 pic.twitter.com/bLuH8TrTtw
— Krishna (@Atheist_Krishna) August 23, 2022
Scenes from ndtv office #NDTV pic.twitter.com/FOnbixXavh
— Sumit (@SumitHansd) August 23, 2022
Adani group acquire @ndtv, frustrated Ravish Kumar on Prime time. pic.twitter.com/EwMShFgowj
— Rofl_Baba (@aflatoon391) August 23, 2022
