Prannoy Roy and Radhika Roy, owners of NDTV, have resigned from the RRPRH board.

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Prannoy Roy and Radhika Roy, founders of New Delhi Television Ltd, had resigned as directors of promoter group vehicle RRPRH, the firm stated in a regulatory filing.

Prannoy Roy and Radhika Roy NDTV

On Monday, NDTV said that an entity supported by the founders had issued the company’s shares to a unit of Adani Group, bringing a billionaire Gautam Adani-led conglomerate one step closer to controlling the media corporation.

NDTV said in a stock market announcement that it “has been advised by Promoter Group vehicle RRPR Holding Private Limited which the Board of Directors in the meeting held today, November 29, 2022, have approved.

Mr. Sudipta Bhattacharya, Mr. Sanjay Pugalia, and Mr. Senthil Sinniah Chengalvarayan have already been appointed as Directors on boards of RRPRH with immediate effect.

Dr. Prannoy Roy and Mrs. Radhika Roy have resigned from their positions on the RRPRH Board of Directors, effective November 29, 2022.

NDTV News: Adani Group is launching an open offer until December 5 to purchase up to 16.76 million shares – or 26% of NDTV’s ownership – from the company’s minority investors.

The necessity to hold an open bid was triggered after Adani Group purchased an indirect 29.18% interest in the media company in August. Bajrang baan

The open offer got approved earlier this month by India’s stock markets regulator.

Following Adani’s interest in NDTV, the company’s stock has risen. It had increased by about 250% this year.

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