AMG Media Networks, a wholly owned subsidiary of the Adani Group, has increased its ownership of IANS shares by subscribing to fresh shares worth Rs 5 crore, as per news agencies.
AMG Media will now have 76% voting rights, a report said.
Earlier in December, Adani Group acquired 50.5 per cent stake of IANS India Private Limited from a third party.
Post the acquisition, IANS has become a subsidiary of AMNL.
In December, AMNL signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to record their inter-se rights with respect to IANS.
