Adani Enterprises raises stake in media agency IANS
₹5 crore. In Category-1 having voting rights, AMG Media Networks raised its stake to 76% from 50.5%, while in Category-2 without voting rights, the stake has been increased to 99.26% from 50.5%, Adani Enterprises said in a regulatory filing.
“...we would like to inform that AMG Media Networks Limited (AMNL), a wholly owned subsidiary of the Company has increased its stake in IANS India Private Limited (IANS), by subscribing to fresh shares issued by IANS," the Adani Group flagship firm said. The allotment of above shares was approved by the board of IANS at its meeting held on January 16, 2024, it added.
In December 2023, Adani Group had acquired a 50.5% stake in the newswire agency, IANS India Pvt Ltd for ₹5.1 lakh. (This is a developing story. To be updated.)Milestone Alert!
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