CHENNAI: The Board of NDTV has approved a proposal to invite the Adani Group's RRPR Holding Private Ltd to nominate two Directors to the NDTV's Board.
RRPR Holding holds 29.18 percent stake in NDTV.
The decision was made during the NDTV Board meeting on Friday and announced to the stock exchanges later that day.
The appointment will be discussed at the upcoming board meeting, which is expected to take place on December 23, NDTV said.
Prannoy Roy and Radhika Roy, the RRPR Holding's initial promoters, recently resigned from their positions as directors as a result of the Adani Group purchasing a 99.5% share in the company.
Prannoy Roy and Radhika Roy do, however, own 15.94% and 16.32%, respectively, of NDTV.
On the other hand, RRPR Holdings has named Senthil Sinniah Chengalvarayan, Sanjay Pugalia, and Sudipta Bhattacharya as Directors.
Also, the Adani Group has made an open offer to buy a further 26% stake in NDTV for Rs 294 a share. NDTV share prices are now declining at stock exchanges after reaching a high of Rs 470.05 on December 1.
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