Ndtv adani news

Adani group-owned media firm NDTV Ltd. on Saturday announced a salary increase across all network verticals after going through a rigorous and transparent appraisal process. The ‘overall salary increase is 11.50%,’ which is significantly higher than the industry average”, according to a statement from NDTV. The raise has been effected just six months after New Delhi Television Ltd. (NDTV) became a part of the Adani group, it added. "The attention was on performance-linked merit appraisals, consistent with industry-best practices designed to ensure that our employees are recognised and compensated based on their performance, promoting an organisation-wide culture of fairness," said NDTV. A special focus in the process was on younger employees, their compensation growth and charting a career path, it added. "As the media industry undergoes a significant transformation with technological advancements, changing consumer preferences and viewership diversification, NDTV reiterates its commitment to remain at the cutting edge of these transformational changes, innovation and leveraging our expertise to provide our viewers with world-class programming," it said. Executive Director Senthil Chengalvarayan said as the NDTV Group embarks on the next phase of growth, "it is our talented team that will be leading the way". "They are the primary force behind the success of NDTV and we are happy to recognise their hard work and commitment with this year's raises. Our aggressive expansion ...

NEW DELHI, Dec 30 (Reuters) - India's New Delhi Television Ltd Along with the Roys, four other independent directors also resigned, effective Dec. 30, NDTV said in a statement. Adani Enterprises Ltd The Roys will continue to hold a 2.5% stake each in NDTV, according to the statement. "I am resigning owing to the change in ownership of the Company. There are no other material reasons for my resignation," Prannoy Roy, one of India's best-known journalists, said in his letter to the company resigning as executive co-chairperson. The acquisition of NDTV by Gautam Adani, the world's third-richest person, will pit him directly against fellow Indian billionaire Mukesh Ambani who has also expanded his media empire. "The Adani Group is privileged to further bolster NDTV with world-class infrastructure and talent and transform NDTV into a thriving multi-platform global news organisation," Adani said in a separate Adani Group would "strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform", the statement added.

Adani Enterprises on Wednesday announced the entire board of directors of NDTV a day after resignation by the television channel's founders Prannoy Roy and his wife Radhika Roy as the directors of promoter group vehicle The Roys, however, still hold a 32.26 per cent stake in NDTV as promoters and have not resigned from the board of the news channel. The flagship Adani firm announced the board of directors of RRPR via a stock exchange filing. "We would like to inform that VCPL has been issued 1,990,000 equity shares of face value Rs 10 each by RRPR Holding Private Limited on November 28, 2022 constituting 99.50% of the paid up share capital of RRPR, against the Warrant Exercise Notice dated August 23, 2022 issued by VCPL to RRPR. VCPL has also received share certificate in this respect on November 29, 2022 from RRPR. "Further, Sudipta Bhattacharya, Sanjay Pugalia and, Senthil Sinniah Chengalvarayan have been appointed as directors of RRPR with effect from November 29, 2022. Prannoy Roy and Radhika Roy have resigned from the board of directors of RRPR with effect from November 29, 2022. Consequently, Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan, who are also directors on the board of VCPL, now constitute the entire board of directors of RRPR," said Adani Enterprises in a stock exchange filing. Pugalia is the chief executive officer and editor-in-chief of media initiatives at Adani Group. RRPR, which has been acquired by the Adani Group, held 29....

Vishvapradhan Commercial has exercised the right to acquire 99.5% of the equity shares of RRPR Holding, allowing AMG Media to own an indirect 29.18% in NDTV. Adani Group said in a statement that Vishvapradhan Commercial, along with AMG Media Networks and Adani Enterprises (persons acting in concert), will launch an open offer to buy up to 1,67,62,530 shares, representing 26% of the stake in NDTV, for ?294 a share. At this price, Adani Group will have to pay ?492.82 crore for the 26% stake. Vishvapradhan Sold Last Week It "was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, had been made aware of this exercise of rights only today", said the statement. They further added that NDTV had informed the stock exchanges on Monday that they were not in negotiations to sell their shares. Last week, Lunia further sold it to Adani Group. "I owned Vishvapradhan Commercial for the last 10 years. Last week, I can confirm that I closed a transaction with the Adani Group," Lunia told ET. NDTV operates three national news channels - NDTV 24x7, NDTV India and NDTV Profit. It also has a strong online presence and its news handles on social media have more than 35 million followers across various platforms. In FY22, NDTV earned Rs 421 crore in revenue, Rs 123 crore in EBITDA, and Rs 85 crore in net profit. At close, NDTV's stock was trading at Rs 376.55, up 4.99% on the NSE. The stock has risen 22.79% in the last five days and 177.9% in the ...

New Delhi: When India's richest man Gautam Adani this week unveiled plans for his firm to control a majority stake in New Delhi Television (NDTV), it was the stealth approach in executing the transaction that drew most attention in the news industry. But NDTV, one of nation's most popular news networks, is seeking to block the takeover attempt by the billionaire tycoon's group, saying regulatory restrictions prevent the bid from proceeding. The takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine its editorial integrity. Much of the spotlight on Adani's two-stage takeover bid is on one, little-known Indian company: Vishvapradhan Commercial Private Limited (VCPL), founded in 2008. More than a decade ago, NDTV founders Prannoy and Radhika Roy took 4 billion rupees ($50 million) in loans from VCPL, and in exchange issued warrants that allowed the company to acquire a 29.18% stake in the news group. Those warrants were convertible at any time. Adani Group said on Aug. 23 it had acquired VCPL and exercised those rights, which should give it the stake in NDTV. Adani Group's takeover bid is without NDTV's consent, the news organisation said hours later. Internally, an NDTV memo referred to the move as "entirely unexpected." Adani Group's indirect control of a stake above 25% means it must put forward an open offer to purchase at least 26% more from existing shareholders in NDTV to give them an opportunity to exit, ac...

New Delhi: In a statement that reflected investment realities, even in several opposition-ruled states, Karnataka Industries Minister MB Patil said in an interview to a private news channel that they will "give time" to the Adani group to "come up with proposals". "We will get clarity on the extent of investments (assured in the 2022 summit) that will materialise in the next meeting (of the department). When any industrialist comes to set up an industry, we will consider their proposals. They (Adani Group) have not promised anything. We will give them time to come up with proposals," he said. Given the campaign by Congress leader Rahul Gandhi against the Adani Group on the Hindenburg report allegations, the BJP's former MLA CT Ravi claimed the Congress government in Karnataka being open to investments from the Adani Group exposes "double standards" of the Congress. Most Congress leaders in the state seem clear that "investments that are transparent and in the interest of the state" are welcome even "if they are from the Adani Group". The group, which has been at the centre of a controversy, has made huge investments and business partnerships in several opposition-ruled states. It is believed that there are several leaders within the Congress who have questioned if a strong campaign against the Adani Group will have electoral dividends. Last year, Rajasthan Chief Minister Ashok Gehlot had showered praise on Mr Adani at the Invest Rajasthan summit, saying, "Gujarat has produ...

BENGALURU, Dec 23 (Reuters) - Indian billionaire Gautam Adani will control 64.71% of New Delhi Television Ltd Adani already held 37% of NDTV after an open offer and an acquisition of a company owned by founders Radhika and Prannoy Roy, despite several unsuccessful attempts by NDTV to block the takeover citing regulatory restrictions on moving shares. The husband-and-wife team will sell a 27.26% stake in NDTV to Adani-owned entity AMG Media Network and retain a combined 5%, regulatory filings by NDTV showed on Friday. "The AMG Media Network, after the recent open offer, is now the single largest shareholder in NDTV. Consequently, with mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media Network," the founders said in a statement. The ports-to-energy conglomerate's takeover of NDTV had raised fears among some journalists that one of the country's last bastions of free media was under threat. Ravish Kumar, a senior executive editor of NDTV, resigned soon after Adani acquired the entity backed by NDTV's founders. "Since the open offer was launched, our discussions with Gautam Adani have been constructive; all the suggestions we made were accepted by him positively and with openness." It was not immediately clear what the discussions and suggestions entailed. Radhika and Prannoy Roy did not immediately respond to requests for comment. Founded in 1988 and owned by the husband-and-wife team, NDTV had previously said that the move by Adani "was ex...

Don't Miss | NDTV’s letter to the Bombay Stock Exchange on Tuesday In a letter on Tuesday, NDTV told the Bombay Stock Exchange, “NDTV has been informed by the Promoter Group vehicle RRPR Holding Private Limited (RRPRH) that the Board of Directors at the meeting held today i.e. November 29, 2022, have approved: 1. Appointment of Mr. Sudipta Bhattacharya (DIN: 0006817333), Mr. Sanjay Pugalia (DIN: 0008360398), and Mr. Senthil Sinniah Chengalvarayan (DIN: 02330757), as Directors on the Board of RRPRH, with immediate effect; and 2. Resignation of Dr. Prannoy Roy (DIN: 00025576) and Mrs. Radhika Roy (DIN: 00025625) as Directors on the Board of RRPRH, with effect from the close of business hours of November 29, 2022.” What happened in August, and how the open offer to acquire NDTV was triggered On August 23, Gautam Adani-led Adani Group, a conglomerate with diverse business interests, According to the SEBI (Substantial Acquisition of Shares and Takeovers) Rules, an open offer is made by the acquirer to the shareholders of the target company inviting them to tender their shares at a particular price, and is triggered if an acquirer holds more than 25 per cent of the public shareholding in the company. So, in the case of NDTV, as On Monday, Reuters reported that an entity backed by NDTV founders had issued shares to a unit of the Adani Group, taking the conglomerate a step closer to acquiring the media firm. Also Explained | NDTV takeover: How did all of this begin? In 2009 and 20...