Television

Adani Group announces open offer launch on 22 November

Previous dates for Adani's open offer were from 17 October to 1 November.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2022/11/14/adani.jpg?itok=rLn8vB-X

Mumbai: In a regulatory filing with the stock exchanges, NDTV said that the Adani Group on Friday announced a revised schedule for its proposed open offer to buy a 26 per cent public shareholding in the news network.

The filing states that the Adani open offer will now likely begin accepting subscriptions on 22 November and end on 5 December.

Previous dates for Adani's open offer were from 17 October to 1 November.

In August, Gautam Adani entities acquired Vishva Pradhan Commercial Pvt Ltd (VCPL), a lesser-known company that had lent the founders of NDTV more than Rs 400 crore.

Also read : AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

VPCL lent the money more than a decade ago in exchange for warrants that allowed it to buy a 29.18 per cent stake in NDTV at any time.

VCPL, in collaboration with AMG Media Networks and Adani Enterprises, has proposed to acquire an additional 26 per cent, or 1.67 crore equity shares, at a price of Rs 294 per share.

The promoters of NDTV had challenged the open offer and the acquisition of VCPL's stake, claiming that the deal could not proceed without the approval of Sebi as well as the income tax department.

The Adani Group had previously denied claims that the stake sale would require tax clearance.

The NDTV promoters claimed that they were completely unaware of the takeover and that it was carried out without their consent.

Following the transaction, the acquirer (Adanis) will not directly own any equity shares in the target company (NDTV), but will own at least 99.50 per cent and up to 100 per cent of the promoter company's paid-up share capital (RRPR Holdings).

The proposed sale of NDTV and its subsidiary, NDTV Networks Ltd., which together own 20 per cent of Malaysian media company Astro Awani Network Sdn Bhd, has been postponed in the meantime.

By letter dated 9 November the Central Bureau of Investigation withheld for the time being its approval of the transaction.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/coke-studio.jpg?itok=iwh3Lcy3
‘Coke Studio Bharat’ celebrates the new voice of India

After the overwhelming success of Coke Studio globally, Coca-Cola announced the launch of Coke Studio Bharat in Mumbai. The season is an amalgamation of over 50 artists from across the country who have come together to create over 10 memorable tracks celebrating the roots of Bharat.

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/barc.jpg?itok=pWG6g0jz
Barc Wk 4' 23: Star Plus tops in all India market

Broadcast Audience Research Council (Barc) India has released currency data for the fourth week, i.e., 21 January to 27 January. As per data for the all-India 2+ target group, Star Plus is the most watched channel in India with an average minute audience (AMA) of 2493.81 (000) AMA.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/dr-bhaskar.jpg?itok=8A6ulxV9
ZEE presents adclub’s 'M.Ad Quiz'

Zee announces the advertising club's M.Ad Quiz, in association with Brand Equity will be held on 3 February 2023 at Jade Sky, Worli, Mumbai, for the participating teams.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/shemaroo2.jpg?itok=AJAKyy_F
Shemaroo Entertainment announces series of key appointments to strengthen its leadership team

Shemaroo Entertainment, India’s leading media and entertainment powerhouse in India, has made key leadership appointments in Human Resource, Domestic and International Syndication Business and their Digital Video Business.

Television TV Channels People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/india-tv-samvad.jpg?itok=yi2jgVRC
Union Budget: India TV to host "Samvad Budget Conclave 2023"

India TV, the nation’s leading Hindi news channel, is organising a daylong "Samvad Budget Conclave 2023" on 3 February in New Delhi.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/02/bharat_express.jpg?itok=fNp6Mrbn
Media Mogul Uday Shankar officially launches Upendrra Rai’s Bharat Express

Mumbai: Media veteran Uday Shankar has officially launched Upendrra Rai’s highly anticipated national Hindi news channel, Bharat Express amidst much fanfare at a dazzling ceremony organised at Hotel Andaz by Hyatt in New Delhi on 1 February 2023.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/01/cnbc-tv18.jpg?itok=vDMZr_I2
CNBC-TV18 brings Union Budget show ‘Budget Verdict’

CNBC-TV18 is set to host the eighth edition of the Budget Verdict on 2 February with the goal of providing viewers with a thorough understanding of the Union Budget 2023-24 and how it affects their lives.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/01/india_today.jpg?itok=PSxbHL4X
India Today TV stands No 1 on Budget Day

Mumbai: India Today TV not only broke all previous records with a dominant number one position in live YouTube viewership on Budget Day 2023, but also emerged as the channel with the most concurrent users across Hindi, English, and Business TV news channels on YouTube, outperforming even...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2023/02/01/alia-varun.jpg?itok=rXBJ9ZWi
Zee Cine Awards 2023 gives a sneak peek into its exciting lineup of performers

Mumbai:Zee Entertainment Enterprises Ltd. (ZEEL), India’s television, media and entertainment conglomerate, brings back the biggest celebration of Bollywood  Zee Cine Awards a show that celebrates cinema and the true spirit of heroism embodied in larger than life performances and  entertainment....

Television TV Shows Awards