New Delhi Television (NDTV) , a prominent player in India's news broadcasting and digital journalism landscape, has successfully concluded its rights issue, raising ₹396.49 crore. The issue, which closed on October 11, saw an enthusiastic response from investors, with an oversubscription of 1.11 times.

Key Highlights of the Rights Issue

Utilization of Funds

NDTV plans to use the proceeds from the rights issue for several strategic initiatives:

1. Expanding distribution footprint in India and internationally
2. Investing in brand-building
3. Reducing debt
4. Funding new intellectual properties
5. General corporate purposes

Management's Perspective

Rahul Kanwal, CEO & Editor-in-Chief of NDTV, expressed optimism about the successful closure of the rights issue. He stated, "The oversubscription of our Rights Issue reflects the trust and confidence of our shareholders in NDTV's vision. With the Promoters also deepening their stake, NDTV is well-positioned to strengthen its platforms, broaden its reach, and continue delivering credible, impactful journalism."

Strategic Implications

The capital infusion is expected to provide NDTV with enhanced financial flexibility to accelerate its digital-first growth strategy. This move aligns with the company's focus on expanding both within India and globally while investing in innovation and digital transformation.

Corporate Structure and Background

NDTV operates as a division of AMG Media Networks Limited, a wholly owned subsidiary of Adani Enterprises Limited. Incorporated in 1988, the company has established itself in the news broadcasting and digital journalism sectors in India, operating television channels and digital platforms with distribution both domestically and internationally.

Professional Advisors

Several professional firms assisted NDTV in this rights issue:

• SBI Capital Markets Limited: Advisor
• Cyril Amarchand Mangaldas: Legal Counsel
• Kfin Technologies Limited: Registrar to the Issue

This successful rights issue marks a significant milestone for NDTV, potentially strengthening its position in the competitive media landscape and providing resources for future growth and expansion.

New Delhi Television (NDTV) , a prominent Indian media company, has announced the successful completion of its amalgamation with four subsidiary companies. The merger, which became effective on October 1, marks a significant corporate restructuring for the media giant.

Amalgamation Details

The amalgamation scheme involves the following NDTV subsidiaries:

1. NDTV Networks Limited
2. NDTV Worldwide Limited
3. NDTV Media Limited
4. NDTV Labs Limited

NDTV confirmed that it filed the confirmation order with the Registrar of Companies on October 1, the same day the amalgamation took effect. This follows the scheme's sanction, which was previously granted on September 13.

Impact on Share Capital

As a result of this merger, NDTV's authorized share capital has seen a substantial increase. The new authorized share capital structure is as follows:

Corporate Disclosure

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, NDTV has made the necessary disclosures to the stock exchanges. The company's filing states that the certified copy of the Confirmation Order sanctioning the Scheme has been submitted to the Registrar of Companies, NCT of Delhi & Haryana in Form INC-28.

Memorandum of Association Update

Following the amalgamation, Clause V of NDTV's Memorandum of Association, which pertains to the Authorized Share Capital, has been amended to reflect the new capital structure.

This corporate action represents a significant step for NDTV, potentially streamlining its operations and consolidating its business structure.