NDTV Rights Issue Oversubscribed, Raises Rs 396.49 Cr

New Delhi, Oct 11 (PTI) Private news broadcaster New Delhi Television Ltd (NDTV) on Saturday said it has raised Rs 396.49 crore through a rights issue which was oversubscribed 1.11 times.

"The Issue received applications for 5.36 crore shares against 4.83 crore shares on offer, representing an oversubscription of 1.11 times," said NDTV in a regulatory filing.

Following the allotment, NDTV's equity share capital increased from 6.45 crore shares to 11.28 crore shares.

Moreover, the promoters' shareholding has increased from 64.71 per cent to 69.02 per cent, while the public shareholding now stands at 30.98 per cent.

Proceeds from the rights issue would help the Adani Group firm to strengthen its digital-first strategy, expand distribution, and reduce debt, it added.

"The Rights Issue proceeds will be utilised to expand NDTV's distribution footprint in India and internationally, invest in brand-building, reduce debt, and fund new intellectual properties and general corporate purposes," it said.

CEO & Editor-in-Chief Rahul Kanwal said: "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."

This capital will help us expand both within India and globally, while investing in innovation and digital transformation, he said.

NDTV has allotted 4.83 crore shares having a face value of Rs 4 each at Rs 82 per equity share.

In the last 12 months, NDTV's share peaked at Rs 147.41 on November 6, 2024. It has settled at Rs 105.10 on BSE on Friday, down 5.49 per cent from the previous close.

Adani group owns majority stakes in NDTV through its two entities - RRPR Holding Pvt Ltd and Vishvapradhan Commercial Pvt Ltd.