Television

NDTV promoters pay Rs 1.9 billion to buy 7.7% from GA Global Investments

MUMBAI: New Delhi Television Ltd‘s founder-promoters Dr Prannoy and Radhika Roy have paid around Rs 1.92 billion to buy 7.73 per cent stake from GA (General Atlantic) Global Investments, increasing their stake in the company to 61 per cent.


Meanwhile, 7.67 per cent of NDTV shares were pledged with Indiabulls Financial Services. "It seems NDTV promoters have pledged their shares while also making a 7.73 per cent (4.8 million equity shares) market purchase from GA Global Investments," says a source.


The foreign holding in NDTV has dropped to around three per cent after the purchase of GA Global Investments by the promoters. The government regulation stipulates that news channels uplinking from India can have a maximum of 26 per cent foreign holding.


"The promoters wanted to increase their stake as it would provide them some space to dilute when they want to. After doling out ESOPs, the promoter holding would have fallen from 53.2 to 51 per cent. The government regulation asks promoters to hold at least 51 per cent in the news venture," says the source.


The purchase also allows foreign institutional investors (FIIs) and NRIs to acquire that many shares more in NDTV till the ceiling of 26 per cent is reached.


The promoters had announced in late 2005 their intent to transfer 15 per cent of their stake to daughter Tara Roy who is a non-resident Indian. But the proposal has still not received regulatory approval.


"If the proposal to gift 15 per cent still stands, it will limit NDTV‘s opportunity to get in a foreign strategic investor. But if that is dropped, then the equations change," says an analyst with a global broking firm.


The analyst also points out that NDTV‘s general and business news channels are held in the same company. "In case of TV18 Group, it is housed in two separate entities with Global Broadcast News (GBN) holding the general news space," he adds.


Following the market purchase, the promoters of NDTV have made an open offer to acquire 20 per cent equity in the company at a price of Rs 438.98 per share. "This is part of the Sebi (Securities and Exchange Board of India) regulation for promoters who increase their stake by over 5 per cent in a financial year. The pricing fixed by the promoters is not aggressive for shareholders to offload. But if they manage to mop up more shares at that price, it will be good," says the analyst.


NDTV shares closed on Monday at Rs 462.60 on the BSE, up 0.6 per cent from the previous close.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/10/aa.jpg?itok=nbnD7UoR
FTA channel Hare Krsna TV aims to specialise in motivational talks

Mumbai-based surgeon Dr Bimal Shah runs Hare Krsna TV, a free to air (FTA) satellite TV channel. Being a self-funded channel run for social service, several cable operators carry it without a carriage fee.

Television TV Channels Specialised and Niche
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/10/gandhi.jpg?itok=1cNZEP5X
Free patriotic films for cinema lovers, courtesy NFDC

This one is for film lovers of India’s independent cinema. The National Film Development Corp (NFDC) has decided to showcase some films from its wide catalogue free between 7 and 21 August 2020 as a celebration of India’s independence day.

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/08/zoom.jpg?itok=B6-BfMzW
International stars from 13 Reasons Why, 365 Days, Too Hot to Handle make their India Television chat show debut with zoOm’s Access Allowed

MUMBAI:  zoOm gears up to welcome the biggest International stars on its much talked about chat show Access Allowed.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/08/rohit.jpg?itok=D72FGTVX
SPNI's Rohit Gupta on The Venice TV Festival jury

NEW DELHI: A tribute to innovation and international recognition for quality creative and media content, The Venice TV Festival has announced Sony Pictures Network India president Rohit Gupta as a part of its extensive international jury for the upcoming festival scheduled in September. 

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/08/radio-mirchi.jpg?itok=JjRNbC6u
ENIL income from outside India grows as other numbers plummet in first quarter

Indian private FM player Entertainment Network (India) Ltd (ENIL), which runs the Mirchi brand radio network in India, reported 71.7 percent fall in consolidated Total Income from Operations (TIO) for the quarter ended 30 June 2020.

Television TV Channels Specialised and Niche
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/08/tv-today.jpg?itok=gzM91a6r
TV Today numbers subdued but profitable for first quarter in Covid2019 period

Most corporates, and more so broadcasters, have reported red bottom-lines for the first full COVID2019 quarter and the first quarter of fiscal 2020-21 (quarter ended 30 June 2020, Q1 2021, quarter or period under review).

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/naggin.jpg?itok=86gUgUR-
Colors' Naagin 5 will premiere on 9 August

MUMBAI: COLORS brings the fifth season of the fantasy fiction franchise Naagin 5. It will be presented by Dabur Amla Hair Oil.An illuminating exploration of the world of Naagin, the series will be fueled by hatred, revenge and unrequited love as the Sarvashresth Adi Naagin will return to avenge her...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/prive.jpg?itok=Tx5whkNS
Korean action-comedy ‘Exit’ to premier on &PrivéHD

MUMBAI: When you feel you’re at an impasse in life, all it needs is the right drive and persistence to see it through the end. Exit,  Korean action-comedy film directed by Lee Sang-geun tells a story of how all things can momentarily change in the blink of an eye.

Television TV Channels English Entertainment
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/08/07/dil.jpg?itok=JP_VgXRV
Sushant Singh Rajput’s last film ‘Dil Bechara’ to be telecast on Star Plus

MUMBAI: After wooing the audience with super hits like Tanhaji: The Unsung Warrior and Lion King, Star Plus is all set to offer its viewers one more Superhit Movie Dil Bechara on 9 August at 8 pm. The movie is an adaptation of the bestselling novel The Fault in Our Stars, it tells the story of...

Television TV Channels Movie Channels

Sign up for our Newsletter

subscribe for latest stories

* indicates required