Know the everything of the game behind Adani's entry in NDTV
NDTV i.e. New Delhi Television Limited is a leading media house of the India, which operates its three national news channels NDTV 24x7, NDTV India and NDTV Profit. Talking about the online presence, it is one of the most followed news channels on social media with more than 35 million followers across various platforms. NDTV has created a special and different identity among its viewers. NDTV also known among its viewers for its editorial policy and frankness. The face appearing in the Prime Time show on this channel, is also considered to be the main pivot of this channel, who have a stand of his own regarding with his journalism. Apart from this, showing news on the channel just like news i.e. without mirch-masala, also makes it different from others.
NDTV now seems to be getting a new owner soon. If NDTV get a new owner, there will definitely so many changes in the institution. In such a situation, there is bound to be a change in the policies of the channel. Actually, Gautam Adani, who is the world's third richest person, is rapidly increasing his business portfolio and now he is also eyeing the media sector. Recently, adani acquired 29.18 percent stake in NDTV and now Adani Group has once again made an open offer to acquire an additional 26 percent stake in NDTV.
According this open offer, an offer price of Rs 294 has been fixed to buy 1,67,62,530 equity shares of NDTV through small investors, which is about 26 percent stake. Adani Group will spend around Rs. 493 crore to buy this additional 26 per cent stake. If this open offer will successful, then adani's total stake in NDTV will be 55.18% and the adani group gets the command of NDTV. The kind of Adani acquired stake in NDTV through an unknown company is called 'Hostile Takeover', means taking over the company against the wishes of the management.
There are so many gossips about Ravish Kumar's New York visit and it is also being linked to the coming changes. It is also being speculated that Ravish Kumar will not be comfortable working with Adani Group. In such a situation, it is possible that he may decide to leave the job. Recently, Ravish Kumar has started his own YouTube channel and has also turned on the monetization of Facebook page. Talking about income, millions of views come on Ravish's videos. Overall, the amount of salary that NDTV gives to Ravish, he can also earn that amount from the new platform.
Actually, this game of indirectly buying NDTV, started from that time, when Adani Group told the stock exchange that it had bought VCPL i.e. Vishwapradhan Commercial Private Limited, a company engaged in media and consultancy business. According the media reports, Adani Group had bought VCPL for just Rs. 114 crore, while the value of warrants held by VCPL was equal to about Rs. 800 crore. VCPL had pledged 29.18 per cent equity shares of RRPR Holdings Pvt Ltd, which is a promoter group company of NDTV. In such a situation, by acquisition of VCPL, Adani also acquired 29.18 percent stake in NDTV.
Founder and promoters of NDTV, Prannoy Roy and his wife Radhika Roy, had taken a loan from VPCL in the year 2008-09 through RRPR (Radhika Roy Prannoy Roy) Holdings Private Limited. For getting this loan, RRPR pledged 29.18 per cent vouchers to VCPL. Along with this, an option was also given that in case of default, they can convert 99.5 per cent of these vouchers into equity. The loan was taken for 10 years and its term was over in 2019, but RRPR did not repay the loan taken. In such a situation, Adani Group acquired 29.18 percent stake in NDTV by buying to VCPL.
NDTV promoters Prannoy Roy and his wife Radhika Roy still hold 32.36 per cent stake. Prannoy Roy holds 15.94 per cent and Radhika Roy holds 16.32 per cent. RRPR held 29.18 per cent shares of NDTV, which Adani Group has already acquired. Retail investors hold 12.57 per cent shares of NDTV, corporate houses 9.61 per cent, foreign portfolio investors 14.7 per cent and others hold 1.67 per cent. According to some media reports, the company named VCPL through which Adani group acquired stake in NDTV was earlier linked to Reliance Industries means Ambani family.
