Can’t buy NDTV shares without SEBI approval – NDTV’s response to Adani Group | Cannot buy NDTV shares without SEBI approval – NDTVs response to Adani Group

New Delhi: Pranai Roy and his wife Radhika Roy jointly started NDTV in 1984. In 2009-10, RRPR, owned by Pranay Roy and his wife Radhika Roy, took a loan of Rs 403 crore from VCPL.

On Tuesday, Adani Group’s AMG Media Networks acquired 100 percent stake in VCPL. Subsequently, Adani Group acquired 29% stake in NDTV based on the loan agreement granted by VCPL to RRPR. Also, the Adani Group has expressed interest in buying 26% stake in NDTV from other shareholders.

In this case, NDTV issued a statement yesterday, “In 2020, SEBI banned the sale and purchase of NDTV’s shares by its founders for two years. Therefore, they need to get approval from SEBI to transfer their shares in NDTV to Adani Group.”