Adani Group-owned Vishvapradhan Commercial Pvt. Ltd. now controls New Delhi Television Ltd.’s promoter group entity RRPR Holding Ltd.
RRPR Holding issued equity shares constituting 99.5% of its equity share capital to Vishvapradhan Commercial on Nov. 28, according to an NDTV exchange filing.
“The shares have been issued in consonance with the Conversion Notice dated August 23, 2022, following the expiry of the 2 year restraint imposed by the Securities & Exchange Board of India in the matter of dealing in securities, on November 26, 2022,” the filing said.
Adani Group had acquired Vishvapradhan Commercial and sought conversion of warrants issued by NDTV’s promoters into equity.