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NDTV denies report of Mukesh Ambani having controlling stake in company

MUMBAI: Reacting to a news report that Mukesh Ambani has taken control of NDTV through a loan agreement, the news broadcaster today clarified that there is no change in its ownership.

The Bombay Stock Exchange (BSE) had sought clarification from NDTV with respect to a news article appearing on Moneylife titled ‘Who Really Owns NDTV’.

“We have examined the factual position and would like to inform you that that there has been no change (actual or effective) in the control/ownership of NDTV,” NDTV said in its reply to the exchange.

It further added that the promoters, Dr Prannoy Roy, Radhika Roy, and RRPR Private Ltd (RRPR), continue to hold the majority shareholding of NDTV amounting to 61.45 per cent of the total shareholding of NDTV.

“There has been no change in the above shareholding since August 2008. Further, Dr Prannoy Roy and Radhika Roy continue to hold the entire shareholding of RRPR since its incorporation,” NDTV said.

It also contended that there has been no change in the exercise of voting rights by the promoters with respect to their shareholding in NDTV.

“According to the records of NDTV, the voting rights in connection with the shares have throughout been exercised by the promoters in the case of Dr Prannoy Roy, Mrs Radhika Roy, and RRPR,” the company said.

NDTV said that the allegations raised in the article with respect to a change in the control/ownership of NDTV are entirely without any merit.

“NDTV is mindful of its obligations under Clause 36 of the Listing Agreement and shall promptly intimate you of any event required of in terms of the Listing Agreement,” it stated.