New Delhi Television’s (NDTV) Promoter Group vehicle RRPR Holding has issued equity shares on November 28, 2022, constituting 99.5% of its equity share capital to Adani Enterprises’ indirect subsidiary -Vishvapradhan Commercial (VCPL). The shares have been issued in consonance with the Conversion Notice dated August 23, 2022, following the expiry of the 2 year restraint imposed by the Securities & Exchange Board of India (SEBI) in the matter of dealing in securities, on November 26, 2022. SEBI has not responded to a specific letter dated August 28, 2022, behalf the Promoter Group vehicle seeking clarification, but has since approved the Letter of Offer (dated November 11, 2022) by VCPL (Acquirer) along with AMG Media Networks and Adani Enterprises for acquiring up to 16,762,530 fully paid up equity shares of the face value of Rs 4 each representing 26.00% of the voting share capital of New Delhi Television in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
New Delhi Television operates as a television media company in India and internationally.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 89.60 |
| Sun TV Network | 611.65 |
| GTPL Hathway | 68.25 |
| Network 18 Media Inv | 34.85 |
| TV Today Network | 113.35 |
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