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    512599   INE423A01024

ADANI ENTERPRISES LIMITED

(512599)
  Report
End-of-day quote Bombay Stock Exchange  -  2023-01-31
2128.70 INR   -28.45%
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Adani Enterprises : AMG Media Networks Limited (AMNL) to indirectly acquire 29.18% stake in NDTV & launch Open Offer

08/23/2022 | 09:56am EST
Editor's Synopsis
  • Vishvapradhan Commercial Private Limited (VCPL), wholly owned subsidiary of AMG Media Networks Limited (AMNL), has exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV.
  • It will trigger an open offer to acquire up to 26% stake in NDTV in terms of SEBI's Takeover Regulations.
  • NDTV has three leading national channels and strong digital platform.
  • AMNL is 100% subsidiary of Adani Enterprises Limited (AEL)

Ahmedabad; Aug 23, 2022: AMNL's wholly owned subsidiary VCPL holds warrants of RRPR Holding Private Limited (RRPR) entitling it to convert them into 99.9% stake in RRPR. VCPL has exercised warrants to acquire 99.5% stake in RRPR. Such acquisition will result in VCPL acquiring control of RRPR.

RRPR is a promoter group company of NDTV (NDTV, BSE: 532529) and holds 29.18% stake in NDTV. VCPL, along with AMNL & AEL (persons acting in concert), will launch an open offer to acquire up to 26% stake in NDTV, in compliance with the requirements of the SEBI's (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

NDTV is a leading media house which has pioneered the delivery of credible news for over three decades. The company operates three national news channels - NDTV 24x7, NDTV India and NDTV Profit. It also has strong online presence and remains one of the most followed news handles on social media with more than 35 million followers across various platforms.

NDTV recorded a Revenue of INR 421 Cr with an EBITDA of INR 123 Cr and Net Profit of INR 85 Cr in FY22 with negligible debt.

"This acquisition is a significant milestone in the journey of AMNL's goal to pave the path of new age media across platforms" stated Mr. Sanjay Pugalia, CEO, AMG Media Networks Limited. "AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform to deliver on our vision. We look forward to strengthening NDTV's leadership in news delivery."

Disclaimer

Adani Enterprises Ltd. published this content on 23 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2022 13:55:03 UTC.


ę Publicnow 2022
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Financials
Sales 2023 717 B 8 770 M 8 770 M
Net income 2023 23 734 M 290 M 290 M
Net Debt 2023 - - -
P/E ratio 2023 102x
Yield 2023 -
Capitalization 2 466 B 30 159 M 30 159 M
Capi. / Sales 2023 3,44x
Capi. / Sales 2024 3,18x
Nbr of Employees 5 051
Free-Float 19,8%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 2 128,70 INR
Average target price 3 512,00 INR
Spread / Average Target 65,0%
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Managers and Directors
Rajesh Shantilal Adani Managing Director & Executive Director
Jugeshinder Singh Chief Financial Officer
Gautambhai Shantilal Adani Executive Chairman
Jatin R. Jalundhwala Secretary & Joint President-Legal
Hemant Madhusudan Nerurkar Independent Non-Executive Director
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