December 8, 2022

Adani’s startling decision to pursue control of NDTV as part of a grand growth strategy has the potential to alter the media landscape. The NDTV founders were not consulted, spoke with, or given permission prior to the Adani Group’s action, the channel claimed in a statement.

Asia’s richest man Adani began a hostile takeover of media behemoth NDTV, first by acquiring an indirect 29.18% holding in the broadcaster and then by making an offer to buy out a further 26% controlling stake. According to NDTV, the founders or the business were not consulted when the debt was turned into equity.

The notice stated that Vishvapradhan Commercial Private Limited (VCPL) had exercised its right to acquire 99.50 percent control of RRPR Holding Private Limited (RRPRH), the promoter-owned company that owns 29.18 percent of NDTV, without consulting NDTV or its founder-promoters.

The stock markets were notified by NDTV on Monday that its founders’ shareholding had not changed. Radhika and Prannoy Roy, the media business’s founder-promoters, were not “currently in discussions with any entity for a change in ownership or a disposal of their stake in NDTV,” according to a declaration made by the company.

What is hostile takeover?

When a business or individual tries to take over another business against the wishes of the target company’s board or management, this is known as a hostile takeover. That is the “hostile” element of a hostile takeover: joining forces with or acquiring a company without the board of directors’ approval.

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