Page 48 - Adani Group

Minority shareholders gain focus amid Adani-NDTV ownership battle

Broadcaster may revise open offer price, say corporate lawyers

How an unpaid loan aided Adani firms to make hostile takeover bid for NDTV

Adani group's acquisition of 34-year-old broadcaster NDTV will help its owner Gautam Adani, the world's fourth-richest man, to join a club of global tycoons in the media business. But behind that acquisition is an unpaid loan that New Delhi Television's (NDTV) founders Prannoy and Radhika Roy had taken from a company linked to rival billionaire Mukesh Ambani in 2009-10. Vishvapradhan Commercial Pvt Ltd had loaned Rs 403.85 crore to NDTV promoter company RRPR Holding Pvt Ltd. Against this interest-free loan, RRPR issued warrants to VCPL entitling it to convert them into a 99.9 per cent stake in RRPR in case it isn't paid-back. VCPL ownership changed hands in 2012. Adani group firm first acquired VCPL from its new owner and exercised the option to convert unpaid debt into a 29.18 per cent stake in the news channel company. Thereafter, it made a Rs 493 crore open offer to buy an additional 26 per cent stake from the public in line with the country's takeover norms. Roys considered ...

LIVE: Nitish wins trust vote after BJP lawmakers walk out of Bihar assembly

From Adani Group acquiring a majority stake in New Delhi Television Ltd (NDTV) to Covid news, catch all the latest live updates here

Target, acquirer, board of directors: Understanding a hostile takeover

While some people refer to Adani's acquisition of a stake in NDTV as a hostile takeover, others disagree. Read more to find out what a hostile takeover is

How Adani Group moved stealthily to acquire NDTV stake: An explainer

At the heart of Adani Group's two-stage plan to snap up a majority stake in NDTV is a little-known Indian company called Vishvapradhan Commercial Private Limited, founded in 2008

After Adani Group's acquisition, here's a look at the brief history of NDTV

NDTV was India's first private producer of news and current affairs shows. Founded by Radhika Roy and Prannoy Roy, it was incorporated on September 8, 1988, as New Delhi Television Private Limited

Asia's richest man Adani's conglomerate on deals spree in India, abroad

Indian billionaire Gautam Adani, Asia's richest man, is making his biggest media bet with a bid to buy a majority stake in New Delhi Television (NDTV)

Adani Group's open offer lifts NDTV to 14-year high, stock hits upper limit

The existing promoter group (Roy family) of NDTV has claimed Adani group firms had acquired the stake without consulting its promoters, thus, there may be some legal repercussion ahead.

Top Headlines: India's nuclear power push gains traction; Adani-NDTV deal

Gautam Adani's group said it will buy a majority stake in New Delhi Television Ltd (NDTV) as it looks to boost media investments as part of an ambitious expansion plan

Adani to acquire 29.18% in NDTV; makes Rs 493-cr open offer for another 26%

This came as AMNL's wholly-owned subsidiary VCPL had warrants of RRPR Holding Pvt Ltd, the holding company of NDTV

Adani's ports-to-power conglomerate 'deeply overleveraged': CreditSights

The aggressive expansion pursued by the Adani Group, led by Asia's richest person, has put pressure on its credit metrics and cash flow, CreditSights said

NDTV says exercise of rights by VCPL done without founders' consent

In a curious turn of events, NDTV has said that without any discussion with the New Delhi Television Limited (NDTV) or its founder-promoters, a notice has been served upon them by VCPL

Adani group stocks fall; Adani Power, Adani Wilmar decline nearly 5%

Most of the Adani group stocks ended lower on Tuesday following a report that the conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses. Shares of Adani Power fell 4.99 per cent, Adani Wilmar went lower by 4.73 per cent and Adani Green Energy declined 4.15 per cent on the BSE. Adani Power and Adani Wilmar hit their lower circuit limits during the day. Also, Adani Enterprises fell 0.93 per cent and Adani Ports and Special Economic Zone dipped 0.32 per cent. However, Adani Transmission jumped 3.23 per cent and Adani Total Gas climbed 1.73 per cent. In the broader market, the 30-share BSE benchmark climbed 257.43 points or 0.44 per cent to settle at 59,031.30. Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said

Adani-owned Mangaluru Airport seeks hike in user development fee

The Adani Airports-owned Mangaluru International Airport (MIA) has sought an immediate increase of Rs 100 in user development fee (UDF) on domestic passengers to facilitate development activities. It has also requested permission to levy the fee on both arriving and departing passengers. The airport, in its latest tariff filing, has sought to levy a UDF of Rs 250 on domestic passengers starting this October, and gradually increasing it to Rs 725 by March 31, 2026. The Airports Economic Regulatory Authority of India (AERA), the tariff-fixing body, is in the process of fixing tariff for Mangaluru airport for the period of April 1, 2021 to March 31, 2026. For international passengers, it has sought to levy UDF of Rs 525 and increase it to Rs 1,200 by March 2026. The users fee will be charged on both departing and arriving passengers if the AERA agrees to it. Currently, the UDF is Rs 150 for domestic and Rs 825 for international passengers, but is charged only on departing passengers.

Adani maintains lead over Mukesh Ambani in market cap at Rs 19.44 trn

On Monday, Adani Group firms had a combined m-cap of Rs 19.44 trillion against Ambani's combined figure of Rs 17.89 trillion. The Tata Group tops the charts with an m-cap of Rs 21.73 trillion as on Mo

Loan refinancing improves Adani-run Mumbai airport's liquidity: CRISIL

However, rating agency says strengths partially offset by risks associated with delay in tariff orders and air traffic

Coast not clear for Vizhinjam seaport as fishermen won't bite bait

Experts are of the opinion that a major reason for sea erosion in the area is due to global warming

Adani to launch open offer to acquire stake in ACC, Ambuja Cement on Aug 26

The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim's two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer this week. The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment. As per the revised schedule submitted by ICICI Securities and Deutsche Equities India - which are the managers of open offer - tendering of the shares in the open will start from August 26 as against the earlier date of July 6. This will end on September 9, 2022. In Ma

Adani Group gets approval for $3.8 billion open offer for Ambuja, ACC

Adani's open offer price for Ambuja is at a 6 per cent discount compared to Thursday's closing price, while that for ACC is at a one per cent discount, data from BSE shows

Adani Power to acquire DB Power for enterprise value of Rs 7,017 crore

'Buy to help expand operations in thermal power sector in Chhattisgarh'