#Adani Group NDTV offer

[reportwire]

NDTV takeover: Adani Group to launch open offer on November 22

NDTV takeover: Adani Group to launch open offer on November 22

Adani Group has announced that its open offer to acquire an additional 26 per cent stake in NDTV will be open for subscription from November 22 to December 5.   The open offer for acquiring 1.67 crore equity shares with a face value of Rs 4 will tentatively close on December 5, 2022, said JM Financial, which is managing the offer. The price fixed for the deal is Rs 294 per share. Earlier, the…

[greport2018]

#AdaniBuysNDTV : What is an Open Offer?

#AdaniBuysNDTV : What is an Open Offer?

On October 17, the Adani Group will launch an open offer to acquire 26% shares of NDTV. If the public shareholders of NDTV accept this offer, the Adani Group will become a 55% stakeholder in delhi-based media company. On August 23, the Adani Group indirectly acquired 29.18 % shares of NDTV. According to SEBI rules, that acquisition triggers an ‘open offer’ to the shareholders to sellout their…

[znewstech]

Adani to pay additional amount for NDTV shares to match payment to founders

Adani to pay additional amount for NDTV shares to match payment to founders

Image used for representative purpose only. | Photo Credit: Reuters Richest Asian Gautam Adani’s group on Tuesday said it will pay an additional ₹48.65 a share to NDTV stockholders who tendered their shares in its open offer to help match what it had paid to buy out a stake of the news broadcaster’s founders. Adani Enterprises in a stock exchange filing said it will pay an additional ₹48.65 per…

[thefinancemagazine]

Adani Group company VCPL has picked up 8.27% stake via open offer, says NDTV

Adani Group company VCPL has picked up 8.27% stake via open offer, says NDTV

News broadcaster has disclosed that Adani Group firm Vishvapradhan Commercial Private Limited (VCPL) has acquired 8.27% of stake in the company in the recently concluded open offer. The total shareholding of Adani has increased to 37.45% with the closure of the open offer. The open offer was triggered after VCPL acquired a 99.5% stake in RRPR Holding Private Limited (RRPR) which translated to…

[publictaknews]

Gautam Adani becomes NDTV's biggest shareholder after open offer

Gautam Adani becomes NDTV’s biggest shareholder after open offer

Indian billionaire Gautam Adani’s group raised its stake in New Delhi Television Ltd to over 37% through an open offer on Monday, making it the largest shareholder of one of the country’s most popular news networks. Although Adani’s group was looking to pick up a 26% stake in NDTV, the open offer attracted bids for only 5.3 million shares, translating to an 8.3% interest in the company. Read this…

[squarwell-breakingnews]

Billionaire Gautam Adani becomes NDTV's biggest shareholder after open offer - Times of India

Billionaire Gautam Adani becomes NDTV’s biggest shareholder after open offer – Times of India

BENGALURU: Billionaire Gautam Adani’s conglomerate on Monday raised its stake in New Delhi Television (NDTV) to more than 37% through an open offer, making it the biggest shareholder of one of the country’s most popular news networks. Although Adani’s group was looking to take another 26% stake in NDTV, the open offer attracted bids for just 5.3 million shares, translating to an 8.3% interest in…

[todaynewsguru]

Billionaire Adani becomes NDTV’s biggest shareholder after open offer

Billionaire Adani becomes NDTV’s biggest shareholder after open offer

Indian billionaire Gautam Adani’s conglomerate on Monday raised its stake in New Delhi Television Ltd to more than 37% through an open offer, making it the biggest shareholder of one of the country’s most popular news networks. Although Adani’s group was looking to take another 26% stake in NDTV, the open offer attracted bids for just 5.3 million shares, translating to an 8.3% interest in the…

[ippnoida]

NDTV promoter transfers 99.5% stake to Adani's VCPL; founders quit

New Delhi Television's (NDTV) promoter company RRPR Holding has transferred 99.5% of its equity shares to the Adani group-owned Vishvapradhan Commercial (VCPL), taking billionaire Gautam Adani a step closer to taking over one of India's biggest broadcasting houses. The transaction was in consonance with a conversion notice issued by VCPL on 23 August 2022, media reports said. 

NDTV founders Prannoy Roy and Radhika Roy have also resigned as directors of the promoter group vehicle RRPRH with immediate effect, the company said in a regulatory filing. The board of RRPR Holding also approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan as Directors on its board with immediate effect, NDTV said.

The share transfer will give Gautam Adani a 29.18% stake in NDTV. The port-to-power conglomerate led by Adani has another open offer for another 26% stake in the media group. 

"We hereby inform you that VCPL has received a letter from RRPR Holding Private Limited ('RRPR') (through its lawyer) dated 28 November 2022, confirming to issue equity shares constituting 99.5% of its equity capital to VCPL on November 28, 2022," said Adani Enterprises in its regulatory filing, LiveMint reported.

The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78% of the issue size of 16.7 million shares, so far, the exchange data showed.

NDTV has three national news channels – NDTV 24×7, NDTV India and NDTV Profit, besides having a strong online presence. 

A decade ago, NDTV founders Radhika and Prannoy Roy took a Rs 4 billion ($49.00 million) loan from a company that Adani acquired in August. In exchange, they issued warrants that allowed the company to acquire a 29.18 per cent stake in the news group.

(This article was updated on 30 November to include the resignation of the NDTV founders)

[reveal-the-news]

Adani Group to launch open offer for NDTV

Adani Group to launch open offer for NDTV

Stock market essentials for November 22: Adani Group to launch open offer for NDTV Photo: BCCL Today’s Event: New Listing: Keynesian technology IPO Price: Rs.587/- Syrma SGS opens anchor lock-in; About 3% equity is out of lock-in Nykaa block deal today: Lighthouse intends to sell 1.86 crore shares in block trade at a maximum discount of 2% NDTV takeover: Adani Group to launch open offer on…

[ramusblog]

A Thread

The story of #NDTV ownership involves media mogul Rupert Murdoch, the infamous Indiabulls, fugitive liquor baron Vijay Mallya, Mukesh Ambani, and now Gautam Adani who bought it from him.  

NDTV’s ownership changed hands many times over the years but @ndtv has always sat pretty in corporate Godi (lap). The story goes like this:

In the late 1980s and early 1990s, when Doordarshan started commissioning news/current affairs shows to private companies, Prannoy Roy and Radhika Roy took the opportunity and started making current affairs programs for it using DD’s resources.

After a policy shift, when private news channels got the permission to downlink, many companies including NDTV came into the channel business. But Roys weren’t the investors. Rupert Murdoch’s company STAR put in the money and NDTV provided the content.

Thus, the NDTV-Star alliance took shape in 1998. The name of the channel was Star News. Pranay Roy had found a filthy rich Godi.

The contract was for five years. But NDTV failed to provide good exciting content. Star News was losing viewership. NDTV employed kids of many top bureaucrats. They loved studio-based TV and discussion-based shows. Ground reporting was not their idea of journalism.

NDTV's Hindi channel NDTV India was launched in 2001. It had fierce competitors like Aaj Tak and Zee News. NDTV India has had an image of a lazy channel from day one. No energy. Anchors loved giving long sermons.

This channel could not withstand the energy of Aaj Tak and Zee. NDTV India survived on the revenue of its English sibling, which wasn’t much. NDTV Profit, the third channel, also never took off properly. CNBC was the leader in business news space.

Rupert Murdoch's deal with NDTV was to continue till 2003. But his son James Murdoch was getting restless. Money was draining out. Content provider (NDTV) wasn’t doing its job properly. Viewership remained a big problem area.

Then Murdoch said ‘Enough is enough’. Soon after the deal period ended in 2003, Murdoch launched his own Star News in India. It later changed hands and became ABP News. NDTV was forced to launch its own channel with its own money.

Until now, NDTV was being run with the help of government money (Doordarshan’s resources) and later on Rupert Murdoch’s money.

Prannoy Roy's business acumen was tested and he failed. Within 3 years of the termination of the contract with Murdoch, the company became so battered that in 2006, it had to take a loan of Rs 400 crore from Indiabulls. Indiabulls perhaps had some ill-gotten money.

NDTV’s finances had gone terribly wrong. The company was battered but instead of reducing expenditure, it started investing in new unviable projects. In 2007, Prannoy Roy launched another channel NDTV Good Times by signing up with liquor baron Vijay Mallya.

NDTV got Rs 100 crore advertisement commitments from Vijay Mallya. Good Times never clicked with the audience. People had access to fashion TV. NDTV Imagine, a Hindi entertainment channel, also failed.

NDTV also tried to go local and launched Metro Nation in Delhi, Mumbai and Chennai. For the Chennai version, NDTV roped in The Hindu Group. These local channels were a disaster.

NDTV might still have survived had there not been a global recession. Advertisement revenue shrunk dramatically after 2008 and avenues for easy money closed shut. NDTV was on its way to doom.

To repay Indiabulls, NDTV took a loan from ICICI. To pay off this debt, it took a loan from Ambani's front company VPCL. 

But NDTV was in no mood to repay the loan. Perhaps it didn’t have the money.

TRP ratings were going south and revenue from advertisements was negligible. In the meantime, VPCL ownership changed thrice. In the third instance, Nahata, an Ambani front man, sold off VPCL to Adani.

VPCL owns 30% of NDTV. Adani media is now moving to have complete control of NDTV through open offer. The loan that once belonged to Ambani was transferred to Adani. SEBI has endorsed Adani’s position in this matter.

The only mystery in this story is why Ambani sold off the loan provider and thus a large stake in NDTV to Adani. There are two likely reasons. First, Ambani did not want to own the NDTV channel.

People weren’t watching it and it wasn’t making money. Moreover, some people in the channel wanted to bring a ‘revolution’ with corporate money.

Second, someone from the government or BJP explained to Ambani that he already controls one-third of the media space in the country. Let Adani take NDTV. No government wants media monopoly.

Similar things happened when Ambani tried to take over Zee Entertainment. He failed to seal the deal. Zee finally tied up with Sony and the company did not go to Ambani. It seems that the central government had shown displeasure over the proposed takeover.

In Niira Radia Tape #132, Radia was actually heard saying that (the Ambani group) had to help Prannoy Roy. That was in 2009. Ambani money came soon after. That tape is now with the Supreme Court.

[reportwire]

The curious case of Adani-NDTV open offer 

Why do people come to the stock markets? Why does one invest in stocks even though there are much safer investment instruments available that also offer the added benefit of assured returns?  To make money, of course. To be more precise, make more money compared to the relatively safer avenues.  Then, isn’t it surprising to see someone ready to sell shares at a certain price, even though the same…

[indianflash123]

Adani and NDTV Take Over

Adani and NDTV Take Over

Gautam Adani-led Adani Group on August 23, 2022 acquired 29.18 per cent stake in the television channel NDTV Ltd, stating that it would launch an open offer as required by the Securities and Exchange Board of India (SEBI) to buy another 26 per cent in the company. NDTV; HOW THIS HAPPENED? Adani Enterprises Ltd’s subsidiary AMG Media Networks Ltd bought Vishvapradhan Commercial Pvt Ltd (VCPL),…

[znewstech]

Adani takes control of NDTV, buys promoters at 17% premium to open offer price

Adani takes control of NDTV, buys promoters at 17% premium to open offer price

NEW DELHI: Adani group on Friday gained full control of news broadcaster NDTV after it acquired most of founders — Prannoy Roy and Radhika Roy — 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…

[indianflashnews]

Adani and NDTV Take Over

Adani and NDTV Take Over

Gautam Adani-led Adani Group on August 23, 2022 acquired 29.18 per cent stake in the television channel NDTV Ltd, stating that it would launch an open offer as required by the Securities and Exchange Board of India (SEBI) to buy another 26 per cent in the company. NDTV; HOW THIS HAPPENED? Adani Enterprises Ltd’s subsidiary AMG Media Networks Ltd bought Vishvapradhan Commercial Pvt Ltd (VCPL),…

[publictaknews]

Adani closes in on NDTV takeover as founder entity transfers shares: Report

Adani closes in on NDTV takeover as founder entity transfers shares: Report

Reuters | , Posted by Lingamagunta Nirmitha Rao New Delhi Television Ltd (NDTV) on Monday said an entity backed by its founders had issued shares to a unit of the Adani Group, bringing the billionaire Gautam Adani-led conglomerate closer to taking over the media firm. The transfer of shares will give Adani controlling 29.18% stake in the news group. Adani is also making an open offer for 26%…

[squarwell-breakingnews]

Adani open offer: Nearly 28 lakh NDTV shares tendered by day 3 - Times of India

Adani open offer: Nearly 28 lakh NDTV shares tendered by day 3 – Times of India

NEW DELHI: Nearly 28 lakh shares were tendered by shareholders of NDTV under the Adani group‘s open offer at the end of the third day on Thursday. Adani group’s open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) started on Tuesday. According to the data from BSE, a total of 27,72,159 NDTV shares amounting to 16.54 per cent of the offer size were…