Radhika, Prannoy Roy resign as Co-chairpersons of NDTV

New Delhi: NDTV founders Radhika and Prannoy Roy Friday announced their resignation with effect from close of business hours of December 30, 2022, due to change in ownership and control of the Company.

The company informed the BSE regarding the resignations of Directors and changes to the board.

Along with Roys, Darius Taraporvala, Kaushik Dutta, Indrani Roy and John Martin O’Loan also resigned from the board of directors.

Additionally, Aman Kumar Singh, and Sunil Kumar were appointed to the Board of the Company with effect from December 30, 2022, as an Additional Director in the capacity of Non-Executive, Independent Director.

Earlier, in a separate regulatory filing, Adani group said it gained full control of news broadcaster NDTV after it acquired most of founders -- Prannoy Roy and Radhika Roy -- stake at a premium of almost 17 per cent over the rate it paid to minority shareholders of the firm.

Adani group now holds 64.71 per cent of New Delhi Television Ltd (NDTV), according to a regulatory filing.

The group run by Asia's richest man Gautam Adani used RRPR Holdings Private Limited, a company that was founded by the Roys and bear their initials in its name, to buy 27.26 per cent shares from Prannoy Roy and Radhika Roy at a price of Rs 342.65 per share, it said.

The price paid to Roys, which translates into Rs 602 crore, is almost 17 per cent premium to Rs 294 a share Adani Group had offered in an open offer to minority shareholders after taking control of RRPR Holdings.

Shares of NDTV closed at Rs 345.60 apiece on the BSE.