SEBI sees no bar in transfer of NDTV shares to Adani

The Securities and Exchange Board of India (SEBI) has in internal consultations concluded that there is no bar on RRPR Holding Ltd, a promoter entity of news broadcaster New Delhi Television Ltd (NDTV), from allotting shares to Adani Group, three people with direct knowledge of the regulator’s thinking said.

“An internal note has been put by the corporate finance department in consultation with the legal department at the regulator clarifying that there is no bar on RRPR Holding that should prevent it from allocating shares,” said the first of the three people cited above.

SEBI’s stance, arrived at in anticipation of a likely reference of the matter to the regulator, is likely to make it easier for the Gautam Adani-led conglomerate in its battle for control of NDTV, with promoters Radhika Roy and Prannoy Roy. Livemint