One of NDTV’s biggest investors, LTS Investment Fund limited, sold over 3.2 lakh of its shares in the company network in a bulk deal on Friday. Each share was sold for Rs 366.65.
Earlier this month, LTS had sold Rs 5.46 lakh of its shares, about 0.84 percent of its total stakes in NDTV, bringing it down to 8.9 percent from 9.75 percent. With the latest deal selling 0.5 percent of the shares, LTS’s total stake in NDTV has fallen to 8.3 percent.
It should be noted that nearly 98 percent of LTS’s investment in India is in four companies of the Adani group. It is thus seen as a holding vehicle for large investors who favour Adani.
After Radhika and Prannoy Roy and RRPRH, LTS is the largest shareholder in the network. The foreign portfolio investor had purchased a stake in the company in 2016.
The other main shareholder in NDTV is another Mauritius-based portfolio investor, Vikasa India EIF I Fund, which also sold NDTV shares in bulk earlier this month.
It sold a total of 1,320,720 shares or 2.05 percent of its stake in three bulk deals over the last week, bringing down its hold in the company to 2.37 percent from 4.42 percent.
After taking over RRPRH’s shares and gaining 8.26 percent of NDTV’s shares in its open offer, the Adani group is now the majority shareholder in NDTV, holding 37 percent of the company.
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