NDTV: Prannoy Roy and Radhika Roy quit, Adani men board RRPR

Roys continue to hold 32.26 per cent stake in NDTV as promoters

Prannoy Roy.: File picture

TT Bureau   |   Calcutta   |    30.11.22  : Prannoy Roy and Radhika Roy have quit RRPR Holding Private Limited (RRPRH), which is the promoter group entity of NDTV.

The news media outlet informed the bourses in a late night filing on Tuesday that the Roys have resigned from RRPRH, which holds a 29.18 per cent stake in NDTV.

The Roys continue to hold 32.26 per cent stake in NDTV as promoters. They have not stepped down from the NDTV board.

The resignations followed a board meeting of RRPRH on Tuesday. The board also approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as directors of RRPR Holdings.

Pugalia, the former editor-in-chief of CNBC Awaaz, is the CEO and editor in chief — media initiatives in Adani Enterprises.

NDTV said on Monday that RRPRH — an entity backed by its founders — had issued shares to a unit of the Adani group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the media firm.

The transfer of shares will give Adani control over a 29.18per cent stake in NDTV. Adani is also conducting an open offer running between November 22 and December 5 for a 26per cent stake.

In August, the Adani group had acquired VCPL, which said it holds warrants of RRPRH. VCPL said it had exercised these warrants to acquire the 99.5 per cent stake in RRPRH.

AAAI elects new board

Prasanth Kumar.: File photo

Calcutta: Prasanth Kumar, CEO — South Asia of GroupM Media (India), was elected the president of the Advertising Agencies Association of India (AAAI) for 2022- 23 at its annual general body meeting held on Tuesday.

Rana Barua, group CEO of Havas Group India, was unanimously elected vice-president of the association.

Other elected members are: Vishandas Hardasani of Matrix Publicities and Media; Kunal Lalani of Crayons Advertising; Rohan Mehta of Kinnect, Chandramouli Muthu of Maitri Advertising Works, Cochin; Sridhar Ramasubramanian of Beehive Communications; Shashidhar Sinha of Initiative Media India, K. Srinivas of Sloka Advertising, Hyderabad, and Vivek Srivastava of Innocean Worldwide Communications.

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