“Adani Group Now Owns Over 99% of IANS in Recent Stake Increase”
In a strategic move to strengthen its foothold in the media industry, the Adani Group, led by billionaire Gautam Adani, has announced its acquisition of a majority stake in news agency IANS India Pvt Ltd. The conglomerate, known for its diverse business interests, had initially secured a controlling stake of 50.50 percent in IANS in December 2023. Now, with an additional investment, the Adani Group has raised its shareholding to 76 percent with voting rights and an overwhelming 99.26 percent without voting rights.
In a strategic move to strengthen its foothold in the media industry, the Adani Group, led by billionaire Gautam Adani, has announced its acquisition of a majority stake in news agency IANS India Pvt Ltd. The conglomerate, known for its diverse business interests, had initially secured a controlling stake of 50.50 percent in IANS in December 2023. Now, with an additional investment, the Adani Group has raised its shareholding to 76 percent with voting rights and an overwhelming 99.26 percent without voting rights.
The announcement, made through a regulatory filing, revealed that the conglomerate’s media arm, AMG Media Networks Limited (AMNL), is set to take complete ownership of IANS. The transaction involves a cash outlay of ₹5 crore.
Adani Enterprises Ltd, the flagship company of the Adani Group, disclosed in its filing, “AMG Media Networks Ltd (AMNL), a wholly-owned subsidiary of the company, has increased its stake in IANS India Private Limited by subscribing to fresh shares issued by IANS.”
This move comes as part of Adani Group’s broader strategy to expand its presence in the media sector. In March of the previous year, the conglomerate entered the media business with the acquisition of Quintillion Business Media, which operates the business and financial news digital media platform BQ Prime. Later, in December, the group secured a substantial 65 percent stake in NDTV, a prominent broadcaster.
The recent acquisition of IANS further solidifies Adani Group’s position in the media landscape. The company now holds a total stake of 76 percent with voting rights and an impressive 99.26 percent without voting rights in IANS. The allotment of shares for this transaction was approved during a meeting of IANS’s board on January 16, 2024.
The regulatory filing stated, “The acquisition is of strategic nature in the interest of AMNL.” This move reflects the conglomerate’s commitment to diversification and expansion in key sectors.
The Adani Group continues to make waves across various industries, with its foray into the media sector marking a significant step in its pursuit of diverse business interests. As the conglomerate consolidates its control over IANS, the media landscape in India is witnessing a notable transformation under the influence of one of the country’s most influential business entities.
Sources By Agencies
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