AMG Media Networks Limited (AMNL) to indirectly acquire 29.18% stake in NDTV & launch Open Offer
23 August, 2022 | Pranay Lad
AMNL’s wholly owned subsidiary Vishvapradhan Commercial Private Limited (VCPL) owns warrants of RRPR Holding Private Limited (RRPR), which entitle it to a 99.99% ownership in RRPR. VCPL execu...
AMNL’s wholly owned subsidiary Vishvapradhan Commercial Private Limited (VCPL) owns warrants of RRPR Holding Private Limited (RRPR), which entitle it to a 99.99% ownership in RRPR. VCPL executed warrants to purchase 99.5% of RRPR. As a result of this transaction, VCPL will gain ownership of RRPR.
RRPR is a promoter group firm of NDTV (BSE: 532529) and owns 29.18% of the company. In accordance with the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, VCPL, AMNL, and AEL (persons acting in concert) would launch an open offer to buy up to 26% of NDTV.
For more than three decades, NDTV has been a forerunner in the transmission of genuine news. NDTV 24×7, NDTV India, and NDTV Profit are the company’s three national news networks. It also has a significant online presence and is one of the most followed news accounts on social media, having over 35 million followers spread across many platforms.
In FY22, NDTV earned INR 421 crore in revenue, INR 123 crore in EBITDA, and INR 85 crore in net profit, with no debt.
“This acquisition is a significant step forward in AMNL’s mission of paving the way for new age media across platforms,” said Mr. Sanjay Pugalia, CEO of AMG Media Networks Limited. “AMNL aims to provide information and expertise to Indian residents, consumers, and anyone with an interest in India.” NDTV is the most suited broadcast and digital platform to carry on our goal, with its leading position in news and strong and wide reach across genres and regions. We are excited to continue NDTV’s leadership in news delivery.”
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