Adani Group Acquired Majority Stake In The News Agency IANS

Delhi/Hyderabad, Dec 16 (Maxim News): Billionaire Gautam Adani’s group has acquired a majority stake in news agency IANS India Pvt Ltd for an undisclosed sum as the group expands its presence in the media space.

In a regulatory filing, Adani Enterprises – the firm that holds the group’s media interest – said its subsidiary “AMG Media Networks Ltd has acquired a 50:50 percent stake constituting equity shares of IANS India Pvt Ltd.,  the company did not disclose the acquisition price.”

Adani forayed into the media business in March last year when it acquired Quintillion Business Media, which operates the business and financial news digital media platform BQ Prime. It thereafter in December took nearly 65 percent take in broadcaster NDTV. 

AMNL was the vehicle for these acquisitions as well.  In the filing, it said, “AMNL has also signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to record their inter-se-rights concerning IANS, “IANS had a revenue of Rs. 11.86 crore in the fiscal year 2022-23 (April 2022 to March 2023) 

“All operational and management control of IANS will be with AMNL and AMNL will have the right to appoint all directors of IANS, ” the filing said. 

“Under the acquisition as set out above, IANS is now a subsidiary of AMNL.”  A first-generation entrepreneur, Adani started as a commodities trader in 1988 and expanded his business interests to become India’s largest private player in infrastructure, with 13 ports and eight airports.  Over the years it diversified into producing coal, energy distribution, data centers and more recently into cement and copper.  It even bid and acquired 5G telecom spectrum to set up a private network.  (Maxim News) 


Next Story :

  • Police Raids In Manger Basthi, Asif Nagar

    Police Raids In Manger Basthi, Asif Nagar

    Hyderabad, Nov 14 (Maxim News): As per the instructions of the Dy. Commissioner of Police, West Zone, (Incharge South West Zone) and under the direct supervision of Mohd Ashfaq, Addl. Dy. Commissioner of Police, South West Zone, Hyderabad, the ACP Asifnagar and ACP Goshamahal Divisions along with Inspectors, Sub-Inspector, staff of both divisions about 70 Police…


  • CM Revanth Has Little Knowledge On How Governor Institution Work: Kishan Reddy

    CM Revanth Has Little Knowledge On How Governor Institution Work: Kishan Reddy

    Hyderabad, Nov 14 (Maxim News): Union Minister of Coal and Mines and State BJP President, G. Kishan Reddy said that the Telangana Chief Minister Revanth Reddy is speaking with little knowledge. He said that whatever decision the Governor has to take, before that, he has to take a legal opinion and if there is some delay…


  • KTR Accused No. 1 In Vikarabad Collector Attack: TPCC President

    KTR Accused No. 1 In Vikarabad Collector Attack: TPCC President

    Hyderabad, Nov 14 (Maxim News): Telangana Pradesh Congress Committee (TPCC) President Mahesh Kumar Goud expressed his anger on BRS Working President K.Tarak Rama Rao alleging that he is the accused No. 1 in Vikarabad district Lagacharla attack and added that he should be punished according to the law.


  • Gold prices in Hyderabad today slashes on Nov. 14

    Gold prices in Hyderabad today slashes on Nov. 14

    Gold prices | Hyderabad, Nov 14: The gold rates slashed in Hyderabad on November 14 , 2024 the price of 10 grams of 22-carat gold, 69,350 with a fall of Rs. 1100 while the rate of 10 grams of 24-carat gold is trading at Rs. 75,650 with a fall of Rs. 1200.


Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe.  Click to follow Indtoday’s Facebook pageTwitter and Instagram. For all the latest Hyderabad News updates

Leave A Reply

Your email address will not be published.