The shares of New Delhi Television (NDTV) jumped by five percent on Wednesday following the announcement that Adani Group would purchase a large stake. NDTV shares have reached a 52-week high after hitting the upper circuit of the day. At present, the price of NDTV shares has gone up by five percent to Rs 384.5. At the National Stock Exchange (NSE), the price of NDTV shares rose by 4.99% and reached Rs 388.20 at the end of the day.
AMG Media Networks Limited (AMNL) CEO Sanjay Puglia stated that this acquisition represents a critical turning point in the business’s journey towards leading the way for new-age media. According to reports, the RRPRH of the VCPL contains “warrants.” The option for the firm to convert this warrant into a 99.9% ownership interest exists. This option to purchase a 99.5 percent interest in RRPRH has been used by VCPL. Given that RRPRH is NDTV’s promoter firm and has a 29.18 percent share in the news organisation.
The promoter-controlled business RRPRH, which owns 29.18 percent of NDTV, is owned by VCPL, according to NDTV’s exchange filing, which claimed that without informing the company or its founder-promoters, VCPL had exercised its right to take control of 99.50 percent of the company.