NDTV To Receive Two Board Seats From Adani Co.

The Adani Group has reportedly been offered two seats on the company's board of directors, following its acquisition of NDTV's majority shareholding.

NDTV's board approved the decision on Friday, 9 December.  At its next board meeting on 23 December, RRPR Holdings, an indirect subsidiary of Adani Enterprises, is expected to discuss the nominations.

A 29.18 per cent stake in NDTV was acquired by the conglomerate on 6, September, 2022. The company made an open offer soon after buying a company owned by Radhika Roy and Prannoy Roy, the founders.

An open offer was then made to acquire an additional 26 per cent from public shareholders.

A total of 53.27 lakh shares of NDTV were acquired by Adani. NDTV is currently owned by the group to the tune of 37.5 per cent.

In the meantime, NDTV's shares dropped by nearly 4 per cent on Friday. There has been a 22.48 per cent drop in the stock price in the past six days.