Consolidating Media Presence

Billionaire Gautam Adani’s conglomerate has increased its stake in IANS India Pvt Ltd, a leading news agency, to attain full control as part of its efforts to consolidate its presence in the media sector. Adani Group had previously acquired a 50.50% stake in IANS, and now, it has raised its shareholding to 76% with voting rights and to 99.26% without voting rights, according to a regulatory filing.

Stake Increase Details

The cash outlay for this transaction amounts to Rs 5 crore. Adani Enterprises Ltd, the flagship firm of the Adani Group, disclosed in the filing that its wholly-owned subsidiary, AMG Media Networks Ltd (AMNL), has subscribed to fresh shares issued by IANS, resulting in the increased stake. The allotment of these shares was sanctioned by the board of IANS during its meeting held on January 16, 2024.

Strategic Acquisition

With the recent acquisition, Adani Group now holds a majority stake in IANS, a move deemed strategic for AMNL’s interests. This consolidation reflects the group’s commitment to expanding its footprint in the media industry.

Previous Media Ventures

Adani Group ventured into the media sector in March of the previous year with the acquisition of Quintillion Business Media, which operates the business and financial news digital media platform BQ Prime. Later in December, it acquired nearly 65% of the shares in the broadcaster NDTV. AMNL facilitated these acquisitions as well, solidifying its role as the vehicle for Adani Group’s media endeavors.

About Adani Group

Gautam Adani, a first-generation entrepreneur, embarked on his business journey as a commodities trader in 1988. Since then, he has transformed his enterprise into India’s largest private player in infrastructure, boasting 13 ports and eight airports. The group’s interests extend to coal production, energy distribution, data centers, and more recently, cement and copper production. Additionally, Adani Group secured 5G telecom spectrum to establish a private network, showcasing its diversified portfolio and ambitious expansion strategies.