NDTV issues statement amid Adani takeover rumours, says not in discussions

Amid the takeover rumours, the shares of NDTV on Monday jumped 10 per cent to their highest trading permissible limit on Monday

Amid rumours that the Adani Group may acquire NDTV, the media company issued a statement, saying that promoters "are not in discussions now".

“NDTV Limited is not in discussions now, nor has been, with any entity for a change in ownership or a divestment of any sort. Founder-promoters, Radhika and Prannoy Roy, who are both journalists, own 61.45 percent of the Company and remain in control of it,” the company said in the statement issued on Monday evening.

Amid the takeover rumours, the shares of NDTV, on Monday, jumped 10 per cent to their highest trading permissible limit on Monday. The stock zoomed 9.94 per cent to close at its upper circuit of Rs 79.65 on the BSE. On the NSE, it jumped 9.99 per cent to Rs 79.85.

Responding to the sudden jump in stocks, the New Delhi-based media company said, "NDTV has no information on why there is a sudden surge in the stock price."

Commenting further on the 'news reports', it said, "NDTV cannot control unsubstantiated rumours, nor does it participate in baseless speculation"

The Company is known for exemplary corporate governance and continues to abide by all legal and regulatory requirements for disclosure, the statement added.

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(With PTI inputs)

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