Ahmedabad (Gujarat) [India]: AMG Media Networks Limited (AMNL) has announced to indirectly acquire a 29.18 percent stake in NDTV through its wholly owned subsidiary VCPL holds warrants of RRPR Holding Private Limited (RRPR), a promoter group company of NDTV.
VCPL is entitled to convert into a 99.99 percent stake in RRPR. VCPL has exercised warrants to acquire a 99.5 percent stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR, which holds a 29.18 percent stake in NDTV.
VCPL, along with AMNL & AEL (persons acting in concert), will launch an open offer to acquire up to 26% stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
NDTV is a leading media house that has pioneered the delivery of credible news for over three decades. The company operates three national news channels – NDTV 24×7, NDTV India and NDTV Profit. It also has strong online presence and remains one of the most followed news handles on social media with more than 35 million followers across various platforms.
NDTV recorded a Revenue of INR 421 Cr with an EBITDA of INR 123 Cr and Net Profit of INR 85 Cr in FY22 with negligible debt.
“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms” stated Mr. Sanjay Pugalia, CEO, AMG Media Networks Limited. “AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform to deliver on our vision. We look forward to strengthening NDTV’s leadership in news delivery.”
About AMG Media Networks Limited (AMNL)
AMNL, wholly owned subsidiary of AEL, houses the media business of the Adani Group. The company was recently incorporated to set up a credible next generation media platform with emphasis on digital and broadcast segments, amongst others. VCPL, which was recently acquired by AMNL, is its wholly owned subsidiary.
