NDTV’s single-largest FPI shareholder is fund dominated by Adani shares

WITH the Adani Group set to launch its open supply for NDTV Ltd on October 17, its bid to accumulate 26 per cent extra within the tv firm will depend upon current buyers tendering their shares at Rs 294 a chunk. The inventory closed at Rs 515.1 on the Bombay Stock Exchange Friday.

The single-largest shareholder of NDTV, in addition to promoters Prannoy Roy and Radhika Roy (32.26%) and the Adani Group (29.18%), is Mauritius-registered overseas portfolio investor (FPI) LTS Investment Fund Ltd with a 9.75% stake. It purchased this stake within the quarter ending September 2016.

An evaluation of  LTS Investment Fund Ltd’s portfolio reveals that of the Rs 20,710.2 crore worth of its shareholding as on June-end 2022 — the newest quarter for which knowledge is obtainable — 97.78 per cent comes from Adani Group corporations.

The break-up of LTS portfolio, as of Saturday:

🔴 Adani Power Ltd: Rs 1,692.3 crore

🔴 Adani Enterprises Ltd: Rs 6,475.1 crore

🔴 Adani Transmission Ltd: Rs 7,010.7 crore

🔴 Adani Total Gas Ltd: Rs 5,073.9 crore

🔴 NDTV Ltd: Rs 326.7 crore

🔴 Others: Rs 131.5 crore

The subsequent huge FPI shareholder in NDTV is Mauritius-based Vikasa India EIF I Fund with a 4.42% stake in NDTV it acquired within the quarter ending September 2021.

While LTS Investment purchased NDTV’s 9.75% from Oswal Greentech, Vikasa India  EIF I Fund acquired 4.42 per cent in NDTV from Mauritius-registered Eriska Investment Fund Ltd which, in flip, had purchased it from Oswal Greentech within the quarter-ended September 2016.

In different phrases, the 14.17 per cent stake in NDTV that Oswal Greentech purchased within the quarter-ended December 2011 is now held by LTS Investment Fund and Vikasa India EIF I Fund.

Around the identical time that LTS Investment Fund entered NDTV, Kolkata-based GRD Securities purchased 3.47 per cent in NDTV within the quarter-ended March 2016.

Later, different entities with director linkages to GRD Securities additionally picked up NDTV shares. As on June 30, 2022, these 4 corporations, GRD Securities (2.8 per cent in NDTV), Drolia Agencies (1.48 per cent), Adesh Broking (1.5 per cent) and Confirm Real Build (1.33 per cent), cumulatively maintain 7.11 per cent in NDTV.