Hyderabad: NDTV shares soared to hit its 10 per cent upper circuit limit amid speculations that the media organization will soon be acquired by the Adani Group. It is being speculated that Adani is looking to acquire a Delhi-based media house, which many assume to be NDTV. Social media users are sharing a post that reads, "Adani group is in talks with NDTV group to acquire NDTV."
Quite a few news reports have also covered the issue. Economic Times said, "Reports have claimed that Adani is looking to acquire a Delhi-based media house, which many speculate to be NDTV. ETMarkets could not immediately verify these speculations…The market has been buzzing with Adani's entry into the media sector after Adani Enterprises inducted veteran journalist Sanjay Pugalia as the CEO and editor-in-chief to lead the group's media initiatives." (archive)
J. Gopikrishnan, a special correspondent at The Pioneer, tweeted, "Adani Group going to buy an old TV Channel which always attacked him & signing will be in London-some say Rs. 1600 cr total deal value. But the guy currently heading will only get around Rs.100 cr & saved from cases & major shareholders will take Rs.750 cr." (archive)
Below are a few posts on Facebook.
The claim is false.
In light of these speculations, NDTV released an official statement clarifying that NDTV Limited is not in discussions with any entity for a change in ownership or divestment of any sort. The official statement read, "NDTV Limited is not in discussions now, nor has been, with any entity for a change in ownership or a divestment of any sort. Founder-promoters, Radhika and Prannoy Roy, who are both journalists, own 61.45 percent of the Company and remain in control of it. NDTV has no information on why there is a sudden surge in the stock price. Regarding 'news reports' on this, NDTV cannot control unsubstantiated rumours, nor does it participate in baseless speculation. The Company is known for exemplary corporate governance and continues to abide by all legal and regulatory requirements for disclosure."
NDTV has clearly stated that the two founder-promoters own 61.45 per cent of the company and remain in control of it thus clarifying that the speculations are false.