Adani Group's VCPL has acquired 8.27% stake through open offer: NDTV

Indian news media company NDTV claimed that Adani Group's Vishvapradhan Commercial Private Limited (VCPL) has obtained an 8.27% stake with 5,330,792 equity shares in the company as part of the open offer. With the move, Adani Group's total shareholding has now increased to 37.45%.

The company stated: "In compliance of the disclosure requirements under Regulation 29(1) read with Regulation 29(3) of the SEBI (SAST) Regulations, please find enclosed herewith the disclosure in the prescribed format in relation to the acquisition of 5,330,792 (8.27%) equity shares having face value of INR 4 each at a price of INR 294 per share of New Delhi Television Limited (Target Company) pursuant to an open offer under the SEBI (SAST) Regulations by Vishvapradhan Commercial Private limited (Acquirer). With the end of the open offer, Adani Group's total shareholding has now increased to 37.45%. With VCPL."

On November 22 this year, NDTV Gautam Adani-led Adani Group launched its open offer -- which ended on December 5, for an additional 26% stake in NDTV. The offer was presented after VCPL acquired a 99.5% stake in NDTV's promoter firm RRPR Holding Private Limitedpromoter firm RRPR Holding Private Limited.

As per the network's statement, Dr Prannoy Roy and Radhika Roy will now hold 15.94% and 16.32% shares in the company respectively. RRPR Holding Private Limited (an indirect subsidiary of Adani Enterprises Limited), holds 29.18% and VCPL holds 8.27%.