India

NDTV dismisses reports which claim SpiceJet’s Ajay Singh to take over company

NDTV dismisses reports which claim SpiceJet’s Ajay Singh to take over company

New Delhi: On Friday, NDTV informed the Bombay Stock Exchange that its promoters did not sold their stake in the company to any person.

According to the news published in DC, it further told the stock exchange that the company is mindful of its obligations under clause 30 of the Listing Regulations of the BSE.

This clarification came after many media reported that SpiceJet founder, Ajay Singh has bought a major stake of NDTV.  It may be recalled that Ajay Singh had coined the slogan ‘Ab ki baar Modi Sarkaar’ for the BJP‘s 2014 poll campaign.

It may be noted that earlier, founders of NDTV had come under the CBI scanner. In June, the CBI carried out searches on the premises of Prannoy Roy and Radhika Roy residence in the national capital for allegedly causing losses to a private bank.

Read also: Controlled Landing? SpiceJet Ajay who coined ‘Abki Baar Modi Sarkar’ slogan sets to take over NDTV

The report said that the chairman and managing director of SpiceJet will have controlling stake of around 40% in NDTV while the promoters Prannoy Roy and his wife Radhika Roy will hold 20% in the company. The report quoted a source saying, “Yes, the deal has been finalised and Ajay Singh will take control of NDTV along with editorial rights”.

All these speculations came to an end after NDTV informed the stock exchange about the truth. According to the data available with BSE, the promoter holding in NDTV stood at 61.45 per cent as of June 2017 while public shareholding in the company stands at 38.55 %.

Earlier in the day, SpiceJet official rubbished the reports of Singh taking control of NDTV as “absolutely false and baseless.”

It may be mentioned that Ajay Singh took over SpiceJet in 2015 and within years, he turned it into one of the most popular low-cost airlines in India.