NDTV scrip hits upper limit after change of guard at promoter company

Chennai: The shares of television channel company New Delhi Television Ltd (NDTV) on Wednesday hit the upper circuit at the bourses with the change of guard at the promoter’s holding company RRPR Holding Private Ltd.

At the BSE, the NDTV scrip opened at Rs 447.70 (upper limit) after closing at Rs 426.40 on Tuesday.

With the Adani group acquiring 99.5 per cent stake in RRPR Holding, the latter’s original promoters Prannoy Roy and Radhika Roy resigned as Directors, the NDTV said on Tuesday.

The company also said it was informed by the promoter group vehicle RRPR Holding that the latter’s board approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as Directors with immediate effect.

The RRPR Holding owns 29.18 per cent stake in NDTV, which has three national television channels.

The Adani group has also made an open offer to acquire an additional 26 per cent stake in NDTV at a price Rs 294 per share.