Adani's takeover of NDTV nears completion after promoters transfer their stake

Having bagged government projects for ports, roads and airports, Adani moved swiftly to make an open offer for the channel, widely seen as critical of the Indian government.

FPJ Web DeskUpdated: Tuesday, November 29, 2022, 10:06 PM IST
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There are still six days to go for the open offer by Gautam Adani to take over India's major news channel NDTV, after its promoters failed to repay a debt, which they didn't disclose to shareholders as well. But the complete acquisition of the media organisation by the country's richest man is closer as Prannoy and Radhika Roy have transferred 99.5 per cent of RRPR holding to Adani's VCPL.

The billionaire, now among the three most richest people in the world, had expressed intentions to retain Roy for heading the channel's operations, in an interview last week. He had also revealed his vision for turning NDTV into an independent Indian news organisation, with an international footprint. The saga had started months back, when Adani took control of VCPL, which had the right to make an open offer for NDTV, if the Roys failed to repay a loan picked up in 2009.

Having bagged government projects for ports, roads and airports, Adani moved swiftly to make an open offer for the channel, widely seen as critical of the Indian government.

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