November 29, 2022
1 min read

Prannoy Roy, Radhika Roy quit NDTV

This means that the existing and longstanding promoters and management of NDTV has exited the company. The Adani group takeover is thus complete….reports Asian Lite News

In a dramatic late night development on Tuesday, the new NDTV board approved the resignations of Prannoy Roy and Radhika Roy as directors of RRPR Holding Private Ltd (RRPR), the promoter group vehicle of New Delhi Television Ltd (NDTV).

This means that the existing and longstanding promoters and management of NDTV has exited the company. The Adani group takeover is thus complete.

The board also appointed Sanjay Pugalia and Senthil Chengalvarayan as directors on RRPRH board with immediate effect.

It needs to be mentioned that NDTV’s promoter firm RRPR Holding had on Monday stated that it had transferred 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.

The transfer of shares will give the Adani group control over a 29.18 per cent stake in NDTV. The diversified conglomerate is also conducting an open offer for another 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.

ALSO READ: NDTV climbs as Adani gets SEBI nod for takeover bid

Previous Story

US, allies gear up for 2nd Summit for Democracy

Next Story

BharatPe hit by top-level exits

Latest from India News

Jaishankar’s visit cements India-UAE strategic ties 

The visit saw engagements with top Emirati leadership and participation in key diplomatic events, reflecting growing collaboration between the two nations….reports Asian Lite News  External Affairs Minister (EAM) S Jaishankar’s three-day visit

Ro Khanna, McCormick to chair India Caucus   

The Congressional Caucus on India and Indian Americans serves as a bipartisan coalition dedicated to fostering stronger relations between Washington and New Delhi  In a significant development reflecting the growing importance of

Over 30 killed in Kumbh stampede  

Multiple casualties took place as a stampede broke out at the Sangam area of the Maha Kumbh early Wednesday as crores of pilgrims jostled for space to take a holy dip on
Go toTop

Don't Miss

India Should Press Russia on UN Charter, US Responds to Modi-Putin Meet

Prime Minister Narendra Modi held an informal meeting on Monday

Climate financing, crypto tops India’s G20 agenda

Finance Minister said that India will try to be a