In an open bid, VCPL, a member of the Adani Group, bought 8.27% of the stock.

 

On December 19, the news network NDTV reported that the Adani Group entity Vishvapradhan Commercial Private Limited (VCPL) has purchased 8.27% of the company's shares in the just closed open offer.

When VCPL purchased 99.5% of RRPR Holding Private Limited, the open offer was initiated (RRPR). 29.18% of the TV news company's shares are held by RRPR.

Currently, Radhika Roy owns 16.32% of the business, with Prannoy Roy holding 15.94%. Shareholding by the promoter and the promoter group is 69.71%.

Adani Group declared an open offer to buy an additional 26 percent stake from NDTV's public shareholders after purchasing VCPL in August.

If the loan wasn't paid back, RRPR had given VCPL warrants that could be exchanged for a 99.9% ownership position in RRPR. By exercising warrants, VCPL was able to purchase a 99.5% share in RRPR Holdings.

Sanjay Pugalia, Senthil Sinniah Chengalvarayan, and Sudipta Bhattacharya have been chosen to join the RRPR board of directors.

On November 28, RRPR Holding, the promoter group vehicle for NDTV, informed exchanges that it had given shares to Vishvapradhan Commercial, making up 99.5% of its equity capital.

Following the expiration of the 2-year restraint imposed by the Securities & Exchange Board of India (SEBI) in the matter of dealing in securities on November 26, 2022, the shares have been issued in accordance with the conversion notice dated August 23, 2022, according to NDTV's notice to the exchanges.