Adani-NDTV: Adani Group will buy media company, NDTV said - did not tell us, know everything about the deal

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summary

       Vishwapradhan Commercial Private Limited, a subsidiary of AMG Media Networks (AMNL), has started the process of indirectly buying 29.18 per cent stake in NDTV Group. The company will also try to buy another 26 per cent stake in NDTV soon.






 Explanation

      Gautam Adani, who entered the media business just three months 29 days ago, can soon become the owner of the country's famous news channel NDTV. In fact, Vishwapradhan Commercial Pvt Ltd, a subsidiary of his group's media company AMG Media Networks (AMNL), has started the process of indirectly buying 29.18 per cent stake in NDTV Group. The company will also try to buy another 26 per cent stake in NDTV soon. Adani Group will spend around Rs 493 crore to buy this stake.For this the company has given an open offer. On this entire deal, it has been said from NDTV that they have received a notice regarding this. However, this issue was not discussed before the company.




What is AMNL?                                 

  The Adani Group is one of the largest business organizations in the country. A flagship company of this group is Adani Enterprises Limited. MNL i.e. MMG Media Networks Limited is a subsidiary of Adani Enterprises Limited. Adani Group holds 100% stake in this company. MNL, a subsidiary of Adani Group, also has a subsidiary Vishwapradhan Commercial Private Limited (VCPL). This is what has announced to buy an indirect stake in NDTV.


Why is there talk of indirect stake purchase?

    Actually, there is a promoter company of NDTV named RRPR. RRPR holds 29.18 per cent stake in NDTV. Adani Group's VCPL has initiated the process of acquiring 99.5% stake in RRPR. With the acquisition of RRPR, VCPL will also have a 29.18 per cent stake in NDTV.

So will VCPL get ownership now?

    After the acquisition of RRPR, VCPL will hold 29.18 per cent stake in NDTV. Adani Group will try to acquire another 26 per cent stake in NDTV. For this, it has been said by MNL that as per SEBI rules, the company will make an open offer to acquire 26 per cent stake in NDTV. If this happens, the Adani Group will have a total stake of more than 55 per cent in NDTV. In this situation, the ownership of NDTV will come to the Adani Group.




How old is the Adani Group company in the media business?

    It is not even four months since the establishment of the Adani Group's media company MG Media Network. The company has been registered on 26 April 2022 at the address of Gandhi Nagar, Gujarat. The company is focusing on digital and broadcast media segments. The three directors of the company that looks after the media business are Pranav Adani, Sudipta Bhattacharya and renowned journalist Sanjay Puglia.

What is the Adani Group's view on this deal?

    Sanjay Puglia, CEO, AMC Media Networks Limited, said that this acquisition will mark a significant milestone in the company's journey to pave the way for new age media across all AMNL platforms. He said that we want to empower citizens, consumers and all those who are interested in India through information and information.

What does NDTV Group have to say on this deal?

    After the news of stake buying surfaced, a news was posted on NDTV's news website. According to this news, there was no discussion from Adani Group with NDTV and its founder-promoters for this deal. VCPL has given notice on the basis of a loan agreement of 2009-10, NDTV reported. All this has been done without the consent of the founders of NDTV and the company. Whereas, a day earlier, NDTV had informed the stock exchange that no change has been made in its shareholdings.RRPRH has been asked to hand over its 29.18 per cent stake to VCPL in just two days.


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