Featured

NDTV Founders Prannoy Roy & Radhika Roy Quit After Adani Group’s Takeover

By
OB Bureau

New Delhi: Adani Group’s takeover of NDTV has been completed with founders Prannoy Roy and Radhika Roy resigning as directors of promoter group vehicle RRPR Holding Private Limited.

Besides accepting their resignation, the new NDTV board appointed Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as directors on RRPRH board with immediate effect, late on Tuesday.

RRPR, which has been acquired by Adani Group, has 29.18 per cent stake in the news channel. The Roys, however, still hold a 32.26 per cent stake in NDTV as promoters and have not resigned from the board of the news channel.

On Monday, RRPR informed about transfer of shares, constituting 99.5 per cent of its equity capital, to Adani group-owned Vishvapradhan Commercial (VCPL), thus completing the official takeover of NDTV by the Adani group.

With this, the Adani group controls over a 29.18 per cent stake in NDTV.

The diversified conglomerate is also conducting an open offer for 26 per cent stake in the media firm. The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78 per cent of the issue size of 16.7 million shares, so far, the exchange data showed.

The open offer will close on December 5.

OB Bureau

Recent Posts

OHRC Seeks Report From Odisha Govt On Mango Kernel Deaths In Kandhamal

Bhubaneswar: The Odisha Human Rights Commission (OHRC) has sent notices to Secretaries of Food &…

November 7, 2024

Why Are Kartik Aaryan’s Parents Scared Of Bollywood?

New Delhi: Even as his recently-released horror comedy ‘Bhool Bhulaiyaa 3’ continues to mint money…

November 7, 2024

How Delhi Police Cracked Gangrape Of Odisha Researcher; Cop In Guise Of Social Worker, Footage Of 700 CCTVs

New Delhi/Bhubaneswar: After over 20 days of investigation and analysing more than 700 CCTV cameras,…

November 7, 2024

‘No Notification Exists’: HC Closes Plea Against 1988 Ban On Salman Rushdie’s ‘The Satanic Verses’

New Delhi: The Delhi High Court has closed proceedings on a petition challenging the Rajiv…

November 7, 2024

Criticised For Touching His Wife’s Feet, Vikrant Massey Gives It Back To Trollers

Mumbai: ‘12th Fail’ actor Vikrant Massey recently got trolled after pictures of him touching his…

November 7, 2024

Threat Call: Was Shah Rukh Khan Targeted For His Deer-Hunting Dialogue In ‘Anjaam’?

Mumbai: Mumbai Police swung into action immediately after Bollywood superstar Shah Rukh Khan received a…

November 7, 2024

[Watch] Snowfall In Desert For The First Time!

Dubai: The effects of global climate change are being seen in various manifestations across the globe.…

November 7, 2024

Police Case Against Websites Selling T-Shirts With Photos Of Dawood, Bishnoi

Mumbai: When criminals are idolised and used for commercial purposes, police are bound to take action.…

November 7, 2024