AMG Media Networks Ltd, a wholly owned subsidiary of Adani Enterprises, had in August bought 100 per cent equity stake in Vishwapradhan Commercial Private Limited or VCPL.
Later that month, the Adani Group announced that it would acquire a 29.18 percent stake in NDTV through VPCL. NDTV had then said that the acquisition was done without Radhika Roy and Prannoy Roy’s consent or notice of any kind.
In November, the conglomerate Adani Group decided to make an open offer to acquire an additional 26 per cent stake in NDTV. This will take the group’s total stake to 55.18 per cent, which is enough to take over the ownership rights of NDTV. This offer will continue till 5th December.