NDTV To Raise Rs 400 Crore Via Rights Issue To Fund Expansion
NDTV is eyeing expansion of distribution to widen its domestic and international presence and invest in brand-building.
New Delhi Television Ltd. board this week approved a capital raise of up to Rs 400 crore through a rights issue to its eligible shareholders. The fundraise will be a significant step in strengthening NDTV’s balance sheet and enhancing its financial flexibility, a stock exchange filing said.
The company will likely issue the details regarding issue price, record date and share allotment via a separate notice.
NDTV is eyeing expansion of distribution to widen its domestic and international presence, invest in brand-building, develop new intellectual properties, reduce debt, and other general corporate purposes.
"This rights issue is a decisive step in strengthening NDTV and preparing it for its next phase of growth. With the resources we raise, we will expand our reach and deepen our impact while staying true to the kind of journalism we have always stood for - credible, trustworthy, and uncompromising," CEO and Editor-in-Chief Rahul Kanwal said.
"This investment will also help us explore new areas of growth, with the digital world opening up new possibilities and new audiences for us," he said.
NDTV operates as a division of AMG Media Networks Ltd., a wholly owned subsidiary of Adani Enterprises Ltd.
