Vishvapradhan Commercial Pvt. Ltd (VCPL) with AMG Media Networks and Adani Enterprises Ltd have proposed to accumulate an extra 26%, or 1.67 crore fairness shares, at a suggestion value of Rs 294 per share. The earlier timeline for the open supply by Adani was October 17 to November 1.

The Adani group acquired a 29.18% stake in NDTV in August this yr, enabling the group to launch an open supply.

According to BSE knowledge, public shareholders maintain 38.55% stake within the firm as of September 2022.

In August, Adani entities had acquired VCPL which had lent over Rs 403 crore to NDTV founders led by Prannoy Roy.

VPCL had lent the quantity in 2009-10 in alternate for warrants that allowed it to accumulate a stake of 29.18% in NDTV at any time. Against this interest-free mortgage, RRPR Holding issued warrants to VCPL entitling it to transform them right into a 99.9% stake in RRPR.

RRPR holds a 29.18% stake in NDTV. Notably, VCPL had raised funds from Reliance Strategic Ventures, an entirely owned subsidiary of Mukesh Ambani-led Reliance Industries Ltd, to increase the mortgage to RRPR.

After the transaction, the acquirer (Adanis) is not going to instantly purchase any fairness shares of the goal firm (NDTV) however shall maintain a minimum of 99.50% and as much as 100% of the paid up share capital of the promoter firm (RRPR Holdings), which holds 18,813,928 fairness shares within the goal firm constituting 29.18% of the voting share capital of the goal firm, it mentioned within the supply doc.

Meanwhile, NDTV and its subsidiary, NDTV Networks Ltd, are placing on maintain the proposed sale of their stake constituting 20% of the whole share capital of Astro Awani Network Sdn Bhd, a media firm in Malaysia.

The Central Bureau of Investigation has withheld for now its approval of the transaction vide its letter dated November 9, 2022.

The firm is at present inspecting the authorized choices obtainable to it and can take the required motion accordingly, NDTV mentioned in a inventory alternate submitting.