Business Standard

Sebi approval not needed for buying NDTV shares: Adani Enterprises

Says any subsequent attempt to return money received or original warrant certificate will have no legal effect on exercise of warrants by VCPL

Gautam Adani
Premium

Gautam Adani (Photo: Bloomberg)

BS Reporter Mumbai
The Adani group on Friday said that news broadcaster NDTV does not need the Securities and Exchange Board of India’s (Sebi’s) approval to transfer the shares of its promoter entity, RRPR Holdings, to VCPL.

In a letter to the stock exchange, Adani Enterprises said VCPL does not agree with RRPR Holdings that prior written approval from Sebi is required for allotment of shares to VCPL on exercise of warrants.

It said on August 23, the amount of Rs 1,99,00,000, being the amount payable for the 19,90,000 equity shares of RRPR pursuant to exercise of warrants, has been paid by VCPL

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 26 2022 | 10:38 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com