Radhika and Prannoy Roy will sell 27.26% stake in NDTV to the Adani-owned entity, giving it 64.71% of NDTV, regulatory filings by NDTV have revealed.
Adani already held over 37% stake in NDTV following the open offer and earlier acquisition of the company owned by the founders.
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“AMG Media Networks, following the recent open offer, is now the largest shareholder in NDTV. Consequently, by mutual agreement, we have decided to sell majority of our shares in NDTV to AMG Media Networks,” the founders said in a statement. ,
“Since the launch of the open offer, our discussions with Gautam Adani have been constructive; he accepted all suggestions made by us positively and with openness,” he added.
Radhika and Prannoy Roy will retain a combined 5% stake in NDTV.
