The business conglomerate Adani Group is ready to become the single-largest shareholder in New Delhi Television Limited, commonly known as NDTV, as the open offer, which got closed on Monday, witnessed a total of 5.33 million equity shares that have been tendered.
The business conglomerate Adani Group is ready to become the single-largest shareholder in New Delhi Television Limited, commonly known as NDTV, as the open offer, which got closed on Monday. It witnessed a total of 5.33 million equity shares that have been tendered.
Including the earlier acquisition, which was 29.18 percent in the media major NDTV, through the Vishvapradhan Commercial Private Limited (VCPL), the headquarters of Gujrat will now be owned 37.5 percent of the stake in the NDTV.
The overall quantum of 5.33 million equity shares that were tendered in the open offer account for a value of 8.3 percent of the total equity capital of the media major, NDTV.
The open offer for the 26 percent stake in the NDTV, proposed by Gautam Adani, led to the Adani Group having its share of what it got.
Shareholders holding more than 25 percent stake are able to block special resolutions. Special resolutions lay emphasis on the fact that shareholders’ resolutions need at least 75 percent vote, as per the law.
Some important resolutions that are required for approval, as special resolutions are a change of the company’s line of business, change of the company’s name, modification of by-laws, buy-back of shares, inter-corporate loans and investments crossing the permissible threshold limits, sale of company’s substantial business, mergers and demergers and the removal of auditors.
On Monday, the shares of NDTV closed at 4.95 percent lower, at Rs 393.90 on the BSE.
There were 56,599 public shareholders in the company as recorded, in September 2022.
The Adani Group
The leading integrated business conglomerate, Adani Group, is an Indian multinational conglomerate, headquartered in Ahmedabad. It was founded by Gautam Adani in 1988, as a commodity trading business with the flagship company Adani.
The various businesses performed by the Adani Group include electric power generation, port management, transmission, mining, renewable energy, natural gas, food processing, airport operations, and infrastructure, to name a few.
Listed companies of the Adani Group
Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Power, Adani Transmission, Adani Total Gas, and Adani Wilmar are the companies listed under the Adani Group of companies.