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Adani Group's indirect control of a stake above 25% means it must put forward an open offer to purchase at least 26% more from existing shareholders in NDTV to give them an opportunity to exit, according to Indian regulations.
More than a decade ago, private day tours in Meteora greece NDTV founders Prannoy and Radhika Roy took 4 billion rupees ($50 million) in loans from VCPL, and in exchange issued warrants that allowed the company to acquire a 29.18% stake in the news group.
One option would be for the NDTV founders to make their own open offer at a higher price to try to increase their stake and challenge Adani, said Shriram Subramanian, founder of proxy advisory firm InGovern. (Reporting by Munsif Vengattil in New Delhi, M.
NDTV is regarded by some as one of the few independent voices in India's rapidly polarising media landscape, and the takeover attempt has triggered concerns among journalists and politicians that a change of ownership could undermine its editorial integrity.
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Forty-five of the state's 67 counties were under a state of emergency, Governor Ron DeSantis said, while four counties were under mandatory evacuation orders, according to the state's Division of Emergency Management.
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NEW DELHI, Aug 25 (Reuters) - When India's richest man Gautam Adani this week unveiled plans for his firm to control a majority stake in New Delhi Television (NDTV), best day trips Vergina it was the stealth approach in executing the transaction that drew most attention in the news industry.
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