Oswal Green Tech buys 14% stake in NDTV

PTI | | Updated on: Mar 12, 2018

Oswal Green Tech Ltd, a Delhi-based chemicals and fertilisers company, has acquired a 14.17 per cent stake in television broadcasting major NDTV Ltd for about Rs 24 crore through open market transactions.

Through bulk deal transactions on the National Stock Exchange, Oswal Green Tech purchased a total of 91,36,894 shares of NDTV at a price of Rs 26.64 a piece, thus acquiring a 14.17 per cent stake in the media company.

Led by Abhey Kumar Oswal, Oswal Green Tech was formerly known as Oswal Chemicals and Fertilisers, and, as per its website, the company’s “main areas of interest are in fertilisers and chemicals and it is the company’s aim to make India self-reliant in these fields.”

As per the stock exchange data, the NDTV shares were sold by Merrill Lynch Capital Markets and Nomura Mauritius Ltd in two separate bulk deals.

However, the two foreign players could have sold the shares as custodians for the shares owned by some other entity. There were unconfirmed reports earlier this year that global private equity giant DE Shaw had purchased a 14.17 per cent stake in NDTV through Merrill Lynch and Nomura.

As per the latest shareholding pattern of NDTV, as filed with the exchanges, the promoters held 61.45 per cent stake in Prannoy Roy-led NDTV as on September 30.

Among non-promoter holders, Merrill Lynch held 7.92 per cent stake, Nomura had 6.25 per cent, Deutsche Securities Mauritius had 1.55 per cent and Jupiter Capital owned 2.36 per cent stake in NDTV as on September 30.

Shares of NDTV were trading nearly 5 per cent up at Rs 26.70 today on the BSE. On the other hand, Oswal Green Tech shares were down 5 per cent at Rs 46.75 on the NSE.

Oswal Green Tech, which was incorporated as a private limited company in November, 1981, became a public limited company in January, 1982. As per NSE data, promoters held 64.33 per cent stake in the company as on September 30.

Published on December 21, 2011
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you