New Delhi: The Board of Directors of New Delhi Television Limited (NDTV) approved raising of up to Rs 400 crore through a Rights Issue of its equity shares to its eligible shareholders, the company said on Wednesday.
One of India’s leading entities in news broadcasting and digital journalism said that the decision was taken at its meeting held on September 2."This proposed capital raising will mark a significant step in strengthening NDTV’s balance sheet and enhancing its financial flexibility," said NDTV.
The additional resources will enable the company to pursue its growth agenda with greater resilience, including expansion of distribution to widen its domestic and international presence, investment in brand-building, development of new intellectual properties, reduction of debt, and other general corporate purposes, the company added.
"This rights issue is a decisive step in strengthening NDTV and preparing it for its next phase of growth. With the resources we raise, we will expand our reach and deepen our impact while staying true to the kind of journalism we have always stood for - credible, trustworthy, and uncompromising," said Rahul Kanwal, CEO and Editor-in-Chief, NDTV.
This investment will also help us explore new areas of growth, with the digital world opening up new possibilities and new audiences for us. Our vision is to build a stronger, future-ready NDTV that reflects the aspirations of a new India, Kanwal added.NDTV has an established track record of delivering news content in both English and Hindi, with a legacy of credible journalism.
"The company is focussed on digital-first growth through branded content, data-driven advertising, and partnerships with global platforms to expand its reach," the news platform said.It is also exploring opportunities in regional language news, international broadcasting through NDTV World, and live events.NDTV operates as a division of AMG Media Networks Limited, a wholly-owned subsidiary of Adani Enterprises Limited.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
