New Delhi Television Ltd.'s board on Thursday approved increasing ownership in NDTV Media Ltd., NDTV Worldwide Ltd., NDTV Convergence Ltd. and NDTV Networks Ltd., through purchase of shares held by minority shareholders at fair market value.
The action is in line with the company's goal of consolidating ownership and enhancing operational control over its subsidiaries, according to an exchange filing.
The parent firm held 92% shareholding in NDTV Convergence, 85% in NDTV Networks, 74% in NDTV Media and 96.25% in NDTV Worldwide, as per the annual report for financial year 2023-24.
The Adani Group acquired NDTV in 2022. Since then, it has launched NDTV Profit, NTDV MP-CG, NDTV Rajasthan, NDTV Marathi and NDTV World.
The media company's September quarter witnessed a 17% year-on-year revenue growth.
Shares of NDTV closed 0.5% lower at Rs 163.15 apiece on the BSE, ahead of the announcement, as compared with a flat benchmark Sensex.
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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