Hilarious Memes on Adani Group And Ravish Kumar After Adani To Acquire 29.2% Stake In NDTV News Came Out

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The billionaire Gautam Adani formed the international company, the Adani group, which is based in India and includes a variety of affiliates. AMG Media Networks Limited, one of its subsidiaries, has made headlines because it plans to buy a 29.18% share in New Delhi Television Ltd. (NDTV) and launch an open offer for a further 26% investment in the media company.

According to SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the Adani Group’s open offer for a 26% stake in NDTV is $294 per share, for a maximum value of Rs. 492.8 crores payable in cash.

AMG Media Networks released a statement,

“Vishvapradhan Commercial Private Limited (VCPL), a wholly owned subsidiary of AMG Media Networks Limited (AMNL), exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV,”

RRPR, a member of the NDTV promoter group, owns a 29.18% interest in the network. Along with AMNL and AEL, VCPL announced the open offer.

If the bid is accepted, the Adani company AMG Media Networks Limited (AMNL) will increase its overall ownership of NDTV NSE from 3.09% to 55.18 per cent in addition to acquiring a 29.18 per cent interest.

CEO of AMG Media Networks Limited, Sanjay Pugalia, stated:

“This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms”

According to reports, Adani firm VCPL could purchase all of the existing equity shares of RRPR, or around 18,813,928 equity shares held by Prannoy Roy and Radhika Roy, and would then own 100% of RRPR’s equity share capital. This amounts to 29.18% of NDTV’s overall voting equity share capital.

NDTV reported sales of Rs 421 crore for FY22 with an EBITDA of Rs 123 crore, a net profit of Rs 85 crore, and minimal debt.

AMNL said,

“The acquisition is in line with AMNL’s objective of setting up a credible next-generation media platform with an emphasis on digital and broadcast segments, amongst others,”

On Tuesday, NDTV’s stock witnessed a 5% increase and settled at Rs 376.55 per share on the BSE.

Only 2.61 per cent of the company will reportedly remain with founder Prannoy Roy.

The hashtag NDTV quickly became trending on Twitter when the news broke. Within an hour of the news being confirmed, internet users began to exchange hilarious messages and memes. Funny memes and replies were all over social media.

Check out the amusing Twitter memes about the Adani group buying NDTV below:

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THE SCENE RIGHT NOW AT THE NDTV OFFICE#NDTV #ADANI #RAVISHKUMAR PIC.TWITTER.COM/FSNEYL9PVZ

— । (@JUGNUHH) AUGUST 23, 2022

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AFTER #ADANI BUYS NDTV  #RAVISHKUMAR PIC.TWITTER.COM/2L1303TE4K

— PEACEFUL (@LIBERALWOKE_) AUGUST 23, 2022

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