A deft legal maneuver helped Gautam Adani cement majority stake in NDTV
.webp)
The sweetener offered by billionaire Gautam Adani’s conglomerate to the once-defiant founders of New Delhi Television Ltd. could test India’s takeover regulations that require all shareholders to be paid the same price by an acquirer.
Founders Prannoy Roy and Radhika Roy will sell 27.26% of their equity in NDTV to Adani-controlled RRPR Holding Pvt. at as much as 460.53 rupees per share, according to a filing Friday. If the Roys do receive this price, it would be a 57% mark up to what minority shareholders received in an open offer that closed Dec. 5.
Regulations require that all exiting shareholders should be paid the same price. However, since the Adani-Roy share transfer will be through vehicles linked to the company’s owners, it is exempt from the takeover rules and is allowed to pay the premium. Adani Group can start buying the Roys’ shares on or after Dec. 30 to boost their stake in NDTV to 64.7%.
While the deft legal move shows the ingenuity of the tycoon and his dealmakers in clinching acquisitions — Adani’s entry into NDTV four months ago was also via an indirect route — it could invoke the regulator’s scrutiny on grounds that it is unfair to common shareholders.
An Adani spokesperson declined to comment on the price the Roys will be paid. The Roys didn’t respond to an emailed query.
Other Latest News
.webp)
The Election Commission has asked its Bihar poll machinery to accept Aadhaar card as an additional document to establish the identity of electors following the Supreme Court's directives.
In a letter to the state Chief Electoral Officer on Tuesday, the Commission said "The Aadhaar card shall be treated as the 12th document, in addition to the 11 documents listed..."
.webp)
Prime Minister Narendra Modi on Wednesday welcomed US President Donald Trump's offer to resume negotiations with India to address the "trade barriers" between the two countries.
In a post on X, PM Modi wrote, "India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership.
.webp)
The Securities and Exchange Board of India (Sebi) has made it easier for investors to access Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) by lowering the minimum ticket size for primary market investments.
Starting September, investors can participate in privately placed InvITs with ₹25 lakh, compared with the earlier steep thresholds of ₹1 crore or even ₹25 crore depending on the asset mix.
.webp)
The Centre has permitted manufacturers, packers and importers of pre-packaged commodities to revise the maximum retail price (MRP) on unsold stocks until December 31, following recent changes in goods and services tax (GST) rates.
The GST Council has revised rates of a range of fast-moving consumer goods (FMCG), effective from September 22, reducing them from 12 per cent or 18 per cent to 5 per cent.
.webp)
US President Donald Trump on Tuesday (local time) urged the European Union (EU) to impose tariffs of up to 100 per cent on India and China as part of efforts to pressure Russian President Vladimir Putin, Reuters reported, citing sources. The request, conveyed via a conference call, sought to leverage the two Asian powers’ role as major buyers of Russian oil, which remains vital to Moscow’s economy amid the war in Ukraine.
.webp)
.webp)
.webp)
.webp)
.webp)
