Adani Group Firm VCPL Bought 8.27 Pc Stake in Open Offer: NDTV

20 December, 2022 | Pranay Lad

adani National

According to NDTV, Adani Group entity Vishvapradhan Commercial (VCPL) recently completed an open bid in which it purchased 8.27 percent of the company's ownership.

According to NDTV, the recently closed open offer saw Vishvapradhan Commercial (VCPL), a subsidiary inside the Adani Group, acquire 8.27% of the company’s ownership.

According to the news organization’s statement of disclosure, VCPL purchased 5,330,792 equity shares of New Delhi Television Ltd. with a face value of Rs. 4 apiece for Rs. 294 as part of an open offer made in accordance with Sebi Regulations. When VCPL acquired 99.5% of RRPR Holding (RRPR), which owns 29.18% of the shares in the TV news company, the open offer was launched.

New Delhi Television (NDTV) founder and promoter Prannoy Roy and his wife Radhika Roy have resigned from their positions as directors on the board of RRPR Holding, NDTV’s promoter group vehicle, the business announced in a regulatory filing to the stock exchanges on Tuesday.

NDTV’s promoter group vehicle, RRPR Holding, owns a 29.18% interest in the company, which the Adani group is acquiring.

Radhika Roy shares 16.32 percent of NDTV, while Prannoy Roy owns 15.94 percent of the company. Shareholding by the promoter/promoter group is 69.71%.

Adani Group declared an open offer to purchase a further 26% interest from NDTV’s public shareholders after purchasing VCPL in August.