Adani group on Friday gained full control of news broadcaster NDTV after it acquired most of founders Prannoy Roy and Radhika Roy’s stake at a premium of almost 17 per cent over the rate it paid to minority shareholders of the firm.
Adani group now holds 64.71 per cent of New Delhi Television Ltd (NDTV), according to a regulatory filing.
The group run by Asia’s richest man Gautam Adani used RRPR Holdings Private Limited, a company that was founded by the Roys and bear their initials in its name, to buy 27.26 per cent shares from Prannoy Roy and Radhika Roy at a price of Rs 342.65 per share, it said.
The price paid to Roys, which translates into Rs 602 crore, is almost 17 per cent premium to Rs 294 a share Adani Group had offered in an open offer to minority shareholders after taking control of RRPR Holdings.
Shares of NDTV closed at Rs 345.60 apiece on the BSE.
Issuing a statement, Adani group said subsequent to change in control, the Board of NDTV has been further strengthened wi
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