NDTV's Rights Issue Triumph: A New Horizon for Expansion

New Delhi Television Ltd (NDTV) successfully raised Rs 396.49 crore through an oversubscribed rights issue. This financial move will support their digital strategy, distribution expansion, and debt reduction. The promoters increased their holdings to 69.02%. The capital aids NDTV's growth and innovation domestically and internationally.

Private broadcaster New Delhi Television Ltd (NDTV) made headlines as it raised Rs 396.49 crore through an oversubscribed rights issue, exceeding expectations by 11% with applications totaling 5.36 crore shares against the 4.83 crore made available.

NDTV's equity share capital has surged from 6.45 crore shares to 11.28 crore shares. Significantly, the promoters' shareholding rose to 69.02%, while public shareholding stands at 30.98% post-allotment. The Adani Group firm plans to utilize the proceeds to enhance its digital-first strategy, broaden distribution, and cut down on debt.

CEO & Editor-in-Chief Rahul Kanwal remarked that the success of the rights issue underscores shareholder confidence in NDTV's vision. He emphasized the network's readiness to fortify its platforms and extend its reach, both in India and globally, in pursuit of delivering impactful journalism.

(With inputs from agencies.)