NDTV founders to receive Rs. 602 crore from Adani Enterprises
The founders of NDTV, India’s leading news media company, are set to receive Rs. 602 crore from the sale of their 27.26% stake to Adani Enterprises. The deal is expected to be completed in the coming weeks.
Background
NDTV, which stands for New Delhi Television Limited, was founded in 1988 by journalist Prannoy Roy and his wife Radhika Roy. The company is known for its award-winning news and current affairs programs, including the popular show “The Big Fight”. NDTV also operates the NDTV Group, which includes channels like NDTV 24×7, NDTV India, and NDTV Profit.
Adani Enterprises, on the other hand, is a conglomerate that operates in sectors like energy, infrastructure, and defense. The company was founded in 1988 by Gautam Adani and is currently one of the largest companies in India. The acquisition of NDTV’s stake is expected to strengthen Adani’s presence in the media industry.
Details of the Deal
As per the deal, Adani Enterprises will acquire a 27.26% stake in NDTV for Rs. 603 crore. This will be done through a combination of primary and secondary share purchases. The primary purchase will result in NDTV issuing fresh shares to Adani, while the secondary purchase will involve Adani buying shares from the existing promoters.
The founders of NDTV, Prannoy Roy and Radhika Roy, will receive Rs. 602 crore from the sale of their stake. This is expected to help the couple repay their outstanding debt and provide them with some financial stability.
Impact of the Deal
The sale of NDTV’s stake to Adani Enterprises is expected to have a significant impact on the media industry in India. Adani Enterprises, which has interests in several sectors, is likely to use NDTV’s platform to expand its reach in the media industry. This move is expected to create a formidable competitor for other media companies in India.
The deal is also expected to help NDTV, which has been struggling financially for the past few years. The company’s revenues have been declining due to the rise of digital media platforms and increased competition from other news channels. The sale of its stake to Adani is expected to provide NDTV with the much-needed capital to invest in its operations and expand its reach.
Conclusion
The sale of NDTV’s stake to Adani Enterprises is a significant development in the media industry in India. It is expected to have a major impact on the operations of both companies and create new opportunities for growth. For NDTV, the sale is expected to provide much-needed capital to invest in its operations and expand its reach. For Adani Enterprises, the acquisition is expected to strengthen its presence in the media industry and create a formidable competitor for other media companies in India.
Important Points of Learn from this News
| Topic | Details |
|---|---|
| Title | NDTV Founders to Receive Rs. 602 Crore from Sale of 27.26% to Adani Enterprises |
| Background | NDTV is a news media company founded in 1988 by Prannoy Roy and Radhika Roy. Adani Enterprises is a conglomerate founded in 1988 by Gautam Adani. |
| Deal Details | Adani Enterprises will acquire a 27.26% stake in NDTV for Rs. 603 crore through a combination of primary and secondary share purchases. NDTV founders Prannoy Roy and Radhika Roy will receive Rs. 602 crore from the sale of their stake. |
| Impact | The deal is expected to have a significant impact on the media industry in India, with Adani Enterprises expanding its reach in the media industry and NDTV receiving the capital to invest in its operations and expand its reach. |
| Conclusion | The sale of NDTV’s stake to Adani Enterprises is a significant development in the media industry in India, creating new opportunities for growth for both companies. |
Frequently Asked Questions (FAQ’s)
Question: What is the title of the article?
Answer: NDTV Founders to Receive Rs. 602 Crore from Sale of 27.26% to Adani Enterprises.
Question: Who are the founders of NDTV and Adani Enterprises?
Answer: NDTV was founded by Prannoy Roy and Radhika Roy, while Adani Enterprises was founded by Gautam Adani.
Question: What are the deal details?
Answer: Adani Enterprises will acquire a 27.26% stake in NDTV for Rs. 603 crore through a combination of primary and secondary share purchases. NDTV founders Prannoy Roy and Radhika Roy will receive Rs. 602 crore from the sale of their stake.
Question: What is the expected impact of the deal?
Answer: The deal is expected to have a significant impact on the media industry in India, with Adani Enterprises expanding its reach in the media industry and NDTV receiving the capital to invest in its operations and expand its reach.
Question: What is the significance of the sale of NDTV’s stake to Adani Enterprises?
Answer: The sale of NDTV’s stake to Adani Enterprises is a significant development in the media industry in India, creating new opportunities for growth for both companies.
