NDTV says Adani entity’s move to take control of shareholder ‘without consent’

An Adani Group company has acquired 29.18% in Radhika and Prannoy Roy-promoted New Delhi Television NSE 4.99 % (NDTV) after converting warrants in a promoter group firm. On Tuesday, the company also announced an open offer to buy an additional 26% in NDTV NSE 4.99 % in accordance with Sebi’s takeover rules.

The multi-layered deal included the sale of Vishvapradhan Commercial, which held warrants of RRPR Holding, a promoter group company of NDTV, to AMG Media Networks, a 100% subsidiary of Adani Enterprises.