Chennai (The Hawk): The RRPR Holding Private Ltd. of the Adani Group has been invited to propose two Directors to the board of New Delhi Television Ltd. (NDTV), and the proposal has been approved by the latter's Board.
The choice was made during the NDTV Board meeting on Friday and announced to the stock exchanges later that day.
In NDTV, RRPR Holding owns a 29.18% stake.
The appointment will be discussed at the upcoming board meeting, which is expected to take place on December 23, according to NDTV.
Prannoy Roy and Radhika Roy, the RRPR Holding's initial promoters, recently resigned from their positions as directors as a result of the Adani Group purchasing a 99.5% share in the company.
Prannoy Roy and Radhika Roy do, however, own 15.94% and 16.32%, respectively, of NDTV.
On the other hand, RRPR Holdings has named Senthil Sinniah Chengalvarayan, Sanjay Pugalia, and Sudipta Bhattacharya as Directors.
Additionally, the Adani Group has made an open offer to buy a further 26% stake in NDTV for Rs 294 a share.
NDTV share prices are now declining at the bourses after reaching a high of Rs 470.05 on December 1.
On the BSE, the share's closing price on Friday was Rs 330.95.
(Inputs from Agencies)
