NDTV founders to sell 27.26% stake in NDTV to Adani group, keep 5%

Adani group will have nearly 65% shareholding in the media company; two additional directors appointed by Adani on NDTV board

New Delhi Television (NDTV) founders Prannoy Roy and Radhika Roy said on Friday that they would sell 27.26 per cent out of their 32.26 per cent shareholding in the news broadcaster to the Adani Group.

This would effectively raise the shareholding of the Gautam-Adani-led group to nearly 65 per cent, after the latter became the single largest shareholder in the media company with a 37.45 per cent stake earlier this month. The Roys would retain a 5 per cent minority stake in the company, they said in a statement to the stock exchanges on Friday.

Following this announcement, the board of NDTV