The Adani Group on Friday said that it has acquired the 27.26 per cent equity stake of Prannoy Roy and his wife Radhika Roy in NDTV.
On 23 December, they announced selling a 27.26 per cent stake out of their remaining 32.26 per cent shareholding in NDTV to the Adani Group.
"RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," said Adani Enterprises in a regulatory filing.
RRPR was indirectly acquired in August by Adani, leading to an open offer to buy a further 26 per cent of the broadcaster.
The open offer found investors willing to sell over 53 lakh shares of the broadcaster despite the deep discount on the stock's trading price. The stock tendered translated to an 8.26 per cent shareholding, taking the total interest of Adani Group in NDTV to 37.44 per cent — higher than the 32.26 per cent holding of the founders.
The latest acquisition of the Roys' stake gives Adani Enterprises a 64.71 per cent stake in NDTV. In an interview this past week, Adani pledged to guarantee the channel's editorial independence and have a strict line of separation between the management and the editorial.