Adani Group's takeover of NDTV: Understanding the mechanics and the math

Business Standard gives you the lowdown on how the strategy to acquire one of India's better-known broadcasting houses played out

At first glance, the Gautam Adani-led Adani Group's takeover of noted media house NDTV appears to be quite complicated. Business Standard dives deeper into the number crunching and qualitative features of the strategy to explain how it was planned and how it is delivering the desired outcome to the acquirer.

August 23, 2022: The Gautam Adani-led Adani Group acquires a 100 per cent stake in Vishvapradhan Commercial Private Limited (VCPL).

VCPL owned convertible debentures (in the form of warrants) in Radhika Roy Prannoy Roy (RRPR) Holding Pvt Ltd, which in turn owned 29.18 per cent stake in NDTV Ltd. So