Adani to acquire 29.18% in NDTV; makes Rs 493-cr open offer for another 26%

This came as AMNL's wholly-owned subsidiary VCPL had warrants of RRPR Holding Pvt Ltd, the holding company of NDTV

The media arm of the Adani group on Tuesday said it had exercised rights to acquire an indirect stake of 29.18 per cent in New Delhi Television (NDTV) through the conversion of loans into an equity stake in the promoter group company of NDTV.

The move has also triggered an open offer for acquiring a 26 per cent stake in NDTV from its shareholders, even as the broadcaster said its founder-promoters had not consented to the exercise of rights, nor was any conversation or input given on the matter. The promoter entity RRPR Holding, at the centre of the acquisition,