'Unsubstantiated rumours': NDTV issues statement after Adani takeover buzz, surge in stock price

After rumours about the Adani group acquiring NDTV buzzed on social media, the news organisation today released a statement clarifying that it is not in any discussions over a change in ownership.

"NDTV Limited is not in discussions now, nor has been, with any entity for a change in ownership or a divestment of any sort," NDTV said in a statement. "Founder-promoters, Radhika and Prannoy Roy, who are both journalists, own 61.45 percent of the company and remain in control of it."

NDTV’s shares hit its 10 percent upper circuit limit after rumours of the Adani group acquiring the company started making the rounds over the weekend. Senior journalist Sanjay Pugalia was appointed as the CEO and editor in chief to lead the Adani group’s media initiatives. It was speculated that Adani will acquire a Delhi-based media house, guessed to be NDTV.

In its statement, NDTV maintained it "has no information on why there is a sudden surge in the stock price".

Regarding the “news reports” on the same, it said: “NDTV cannot control unsubstantiated rumors, nor does it participate in baseless speculation.”

The statement concluded that the company "is known for exemplary corporate governance and continues to abide by all legal and regulatory requirements for disclosure".