Founders Prannoy Roy, Radhika Roy exit NDTV, transfer most stakes to Adani

NDTV founders Prannoy Roy and Radhika Roy say they will sell most of their shares in the broadcaster to Adani Group

New Delhi Television Ltd (NDTV) founders Prannoy Roy and Radhika Roy on Friday said they have decided to transfer most of their shares in the news network to Adani Group.

Roys will sell 27.26 per cent out of their 32.26 per cent shareholding in the news broadcaster to Adani Group while retaining a minority 5 per cent shareholding, regulatory filings by NDTV showed.

After this tranfer, Adani Group, that currently holds 37.44 per cent stake in the company will become the single largest shareholder with over 64.71 per cent stake. 

Adani Group had earlier bought out a company backed by the founders and