The board of directors of New Delhi Television Limited (NDTV), which is owned by Gautam Adani, has agreed to pursue approval from the Union Ministry of Information & Broadcasting to develop nine regional news stations in various Indian languages. The gathering took place on May 17.

Once the plan has been approved by the Ministry of Information & Broadcasting, the NDTV, which was previously run by Prannoy Roy and Radhika Roy, would advise the stock exchanges of the debut dates of these channels.

Adani Group announced in August of last year that its media division will purchase the majority of NDTV. Following an open offer for a further 26% interest, Adani's unit indirectly acquired a 29.18% stake in NDTV.

Adani Group fully took over NDTV in December 2022 after purchasing the majority of the founders' shares from Prannoy Roy and Radhika Roy for a premium of almost 17% over the price it paid to the company's minority shareholders. AMG Media Networks Ltd (AMNL), through its subsidiary RRPR Holding Private Limited, bought a 27.26% share in NDTV on December 30, 2022, giving AMNL a controlling interest of 64.71% in the media company. The Roys continue to own a 2.5% interest each in NDTV.

The company said in its Q4 results that one-time costs for severance pay and one-time write-off provisions reduced the EBITDA margins by Rs 4.80 crore.

According to NDTV, attempts have been taken to cut back on external borrowing, which was down to Rs 3 crore in the quarter under review from Rs 9 crore the year before.

Additionally, the company's cash and cash equivalents decreased from Rs 116.4 crore in 2022 to Rs 103.6 crore for the quarter.

Since Hindenburg Research's damning research on Adani Group was released in January, which accused the company of engaging in widespread stock price manipulation and falsely misrepresenting the value of its assets, NDTV's share prices have fallen by about 39%.

Also Read - As IDBI Bank's insolvency claim against Zee Entertainment is rejected by NCLT, the way is now free for the merger of Zee and Sony.