NDTV founders Prannoy Roy and Radhika Roy on Friday said they have decided to divest most of their shares in the channel to AMG Media Network, part of the Adani Group.
Roys will sell 27.26 per cent out of their 32.36 per cent shareholding in NDTV to Adani Group while retaining a combined minority 5 per cent shareholding, showed regulatory filings by NDTV. Post this transfer, Adani Group, which currently holds 37.44 per cent stake in the company, will become the single largest shareholder with over 64.71 per cent stake. Adani Group already held more than 37 per cent in NDTV after an open offer and an earlier acquisition of a company owned by the Roys (founders).
“Since the open offer was launched, our discussions with Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness,” the founders’ statement to the exchanges said.