Prannoy Roy & Radhika Roy step down as RRPRH Directors

Sudipta Bhattacharya, Sanjay Pugalia and Senthil Chengalvarayan have been appointed as Directors on RRPRH Board with immediate effect

by exchange4media Staff
Published: Nov 29, 2022 11:03 PM | 1 min read

NDTV Founders Prannoy Roy and Radhika Roy have resiged as RRPRH Directors. The NDTV Board has accepted the resignations and appointed Sudipta Bhattacharya, Sanjay Pugalia and Senthil Chengalvarayan as Directors on RRPRH Board with immediate effect.

It must be mentioned that NDTV’s promoter firm RRPR Holding had on Monday stated that it had transferred shares constituting 99.5 per cent of its equity capital to Adani group-owned Vishvapradhan Commercial (VCPL).Thus completing the official takeover of NDTV by Adani.

The transfer of shares will give the Adani Group control over a 29.18 per cent stake in NDTV. The port-to-power conglomerate is also conducting an open offer for another 26 per cent stake in the media firm. The open offer, which began on November 22, has seen shareholders tender 5.3 million shares, or 31.78 per cent of the issue size of 16.7 million shares, so far, the exchange data showed. The open offer will close on December 5.