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The Times of India

Business

PTI

Takeover battle: NDTV promoter entity, Adani group approach Sebi on warrants conversion

NDTV SEBI Adani RRPR VCPL RRPR Holding Prannoy Roy Radhika Roy Adani Enterprises New Delhi

NEW DELHI: Adani group and NDTV's promoter entity RRPR Holding Ltd have approached Sebi, seeking clarity on the applicability of the regulator's earlier order regarding the conversion of warrants into shares, a decisive factor in the hostile takeover battle for the media group.

Days after Adani group on August 23 announced acquiring a 29.18 per cent stake in NDTV through the acquisition of VCPL, which holds a 99.99 per cent stake in RRPR Holding, the media group's promoters have asserted that the deal cannot go ahead without Sebi's nod.

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