New Delhi: Suparna Singh, the president of NDTV, released her statement after the news broke out that VCPL has acquired RRPRH, which is a company owned by Radhika Roy and Prannoy Roy, it has 29% of NDTV. VCPL is owned by AMG Media Network Limited (AMNL) which comes under the Adani Group.
On the development, the news media company said, ”The NDTV founders and the Company would like to make it clear that this exercise of rights by VCPL was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, have been made aware of this exercise of rights only today. ”
In her statement Suparna Singh wrote, ”The developments of today are entirely unexpected for NDTV, and for Radhika and Prannoy. As recently as yesterday, NDTV informed the stock exchanges that its founders had not changed any part of their shareholding in NDTV.”
”Radhika and Prannoy continue to hold 32% of NDTV. VCPL has been acquired by Adani Media Group. This Group has also announced an open offer to buy up to 26% of NDTV’s shares from the market. Such an open offer is required if one entity picks up 25% of the Company (VCPL has acquired 29% as stated above),” added Singh.
She further said, we are in the process of evaluating the next steps. Further development will be announced after completing the regulatory and legal processes.
