Adani Group to acquire 29.18 per cent stake in NDTV, launches open offer

Vishvapradhan Commercial Private Limited, a wholly owned subsidiary of the Adani group, is set to to acquire a 29.18 per cent stake in NDTV.

“VCPL holds warrants of RRPR Holding Private Limited (RRPR), NDTV’s promoter company, entitling it to convert them into 99.99% stake in RRPR. VCPL has exercised warrants to acquire 99.5% stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR,” an Adani group press release said.