Prannoy Roy, wife Radhika quits, following Adani's takeover of NDTV

Digital Desk: Prannoy Roy and his wife Radhika Roy, who founded and promoted the television network New Delhi Television (NDTV), have resigned as Directors on the Board of RRPR Holding Private Limited (RRPRH), the company announced in a regulatory filing on Tuesday. Their resignation will take effect on November 29.

NDTV's promoter group vehicle, RRPL Holding, owns a 29.18% stake in the company, which the Adani group is acquiring.

Sudipta Bhattacharya, Sanjay Pugalia, and Senthil Sinniah Chengalvarayan have been appointed as Directors on the board of RRPR Holding with immediate effect, according to NDTV in an exchange filing.

 

The Adanis, who previously purchased a 29.18% stake in NDTV has made an open offer to the general public to purchase another 26% of the company.

 

Radhika Roy is an executive director, and Prannoy Roy is the chairperson of NDTV, according to the BSE website.

In August of this year, the Adanis took over RRPL in its entirety. If the Adanis are successful in acquiring the necessary 26% stake, the group's overall stake will increase to 55.18%, giving it the ability to assume management of NDTV. The Roy family owns 32.26 percent of NDTV.