Adani Group Raises Stake In IANS Media Agency

AMG Media Networks Ltd. acquired an additional stake in news agency IANS India Pvt. for Rs 5 crore, according to an exchange filing on Wednesday.

The media arm of Adani Group acquired an additional 25.5% of Category I equity shares with voting rights, taking the total shareholding under the category to 76%. It also acquired an additional 48.76% stake in Category II shares, without voting rights, and now holds 99.26% of the category.

The media company had acquired a 50.5% stake in both categories on Dec. 15.

The allotment of these shares was approved by the IANS board at its meeting on Jan. 16.