What Happened to New Delhi Television Limited (NDTV)?
NDTV, an Indian news media company founded in 1984 by Prannoy Roy and Radhika Roy, pioneered independent television journalism in India. After decades of operation, including launching multiple news channels and digital platforms, the company underwent a significant ownership change in late 2022, with the Adani Group acquiring a majority stake. As of early 2026, NDTV continues its operations under Adani's control, though it has reported widening consolidated losses despite revenue growth.
Quick Answer
NDTV (New Delhi Television Limited), once a beacon of independent journalism in India, was acquired by the Adani Group in a multi-stage process that concluded in late 2022, making the conglomerate the single largest shareholder. Founders Prannoy Roy and Radhika Roy resigned from the promoter holding company's board, effectively ceding control. As of April 2026, NDTV operates under Adani's majority ownership, and its Q3 FY26 financial results (ending December 2025) indicated widening consolidated losses despite an increase in revenue.
📊Key Facts
📅Complete Timeline13 events
Founding of New Delhi Television
Journalist Radhika Roy and economist Prannoy Roy founded New Delhi Television (NDTV) as a production house for news segments for Doordarshan.
Launch of India's First 24x7 News Channel
NDTV partnered with Star India to launch India's first 24x7 news channel, marking its transition into an independent news network.
Independent Broadcasting Network Launch
NDTV became an independent broadcasting network, launching its own Hindi and English language news channels, NDTV India and NDTV 24x7.
Promoters Take Loan from VCPL
NDTV's promoter company, RRPR Holding Pvt Ltd, took an interest-free loan of over ₹400 crore from Vishvapradhan Commercial Private Limited (VCPL), which included warrants convertible into equity.
Adani Group Acquires VCPL, Indirectly Gains NDTV Stake
Adani Group announced the acquisition of 100% stake in VCPL, thereby indirectly acquiring a 29.18% stake in NDTV through the conversion of warrants held by VCPL in RRPR Holding. NDTV founders stated this was done without their consent.
Adani Group Launches Open Offer for Additional NDTV Stake
Adani Group launched an open offer to acquire an additional 26% stake in NDTV from public shareholders, aiming to become the majority owner.
Prannoy and Radhika Roy Resign from RRPR Holding Board
Prannoy Roy and Radhika Roy resigned as directors from the board of RRPR Holding Private Limited, the promoter group vehicle of NDTV, as Adani Group gained control.
Ravish Kumar Resigns from NDTV
Veteran journalist and prime-time anchor Ravish Kumar resigned from NDTV, a move widely seen as a consequence of the Adani Group's takeover.
Adani Group Becomes Majority Shareholder
Prannoy Roy and Radhika Roy sold 27.26% of their shares to the Adani Group, increasing Adani's total shareholding to over 64.71% and making it the single largest shareholder.
Amalgamation of Subsidiaries
NDTV Networks, NDTV Worldwide, NDTV Media, and NDTV Labs were amalgamated into the listed company, becoming effective from this date.
Q3 FY26 Financial Results Released
NDTV reported a consolidated net loss of ₹80.25 crore for the quarter ending December 31, 2025 (Q3 FY26), despite a 13.31% year-on-year increase in revenue to ₹150.41 crore.
Shareholders Approve Director Reappointment and Related Party Transactions
NDTV shareholders approved the reappointment of Sanjay Pugalia as Whole-time Director and related party transactions with NDTV Convergence Limited and Adani Enterprises Limited for FY 2026-27 via postal ballot.
Board Meeting for Q4 FY26 and FY26 Audited Results
New Delhi Television Limited scheduled its board meeting to consider and approve the audited financial results for Q4 FY26 and the full fiscal year ending March 31, 2026.
🔍Deep Dive Analysis
New Delhi Television Limited (NDTV) was founded in 1984 by economist Prannoy Roy and journalist Radhika Roy, initially as a production house for news segments for public broadcaster Doordarshan. It transitioned into India's first independent news network, launching a 24x7 news channel in partnership with Star India in 1998, and later its own independent channels, NDTV India and NDTV 24x7, in 2003. The company gained a reputation for incisive journalism and became a trusted news source, known for its trailblazing news talk shows and election analysis.
Over the years, NDTV faced various financial and operational challenges, including government pressure and litigations. A key turning point came in 2009 when NDTV's promoter company, RRPR Holding Pvt Ltd, took an interest-free loan of over ₹400 crore from Vishvapradhan Commercial Private Limited (VCPL), a company that was eventually linked to Reliance Industries. This loan agreement included warrants that allowed VCPL to convert them into a 99.99% stake in RRPR Holdings, which in turn held a significant stake in NDTV.
The landscape dramatically shifted in August 2022 when the Adani Group, a multinational conglomerate with diverse business interests and noted ties to the ruling BJP, announced it had acquired 100% of VCPL. This indirect acquisition gave Adani Group control over the warrants, which it then moved to convert into a 29.18% stake in NDTV. NDTV's founders initially stated that this move was executed without their input, conversation, or consent, labeling it a 'hostile takeover.'
Following the indirect acquisition, the Adani Group launched an open offer to acquire an additional 26% stake in NDTV in November 2022. In a pivotal development in December 2022, Prannoy Roy and Radhika Roy sold 27.26% of their remaining 32.26% shareholding in NDTV to the Adani Group, making the conglomerate the single largest shareholder with over 64.71% stake. The Roys also resigned as directors from the board of RRPR Holding. This acquisition led to the resignation of prominent journalists, including Ravish Kumar, and sparked debates about media independence in India.
As of April 2026, the Adani Group maintains a majority stake in NDTV, with promoter shareholding at 69.02%. The company continues to operate its news channels, including NDTV 24x7, NDTV India, and NDTV Profit, alongside regional channels. Financially, NDTV reported a wider consolidated net loss of ₹80.25 crore for Q3 FY26 (October-December 2025), despite a 13.31% year-on-year increase in revenue to ₹150.41 crore. The losses widened due to a faster rise in operating expenses. The board of directors held a meeting on April 29, 2026, to consider and approve the audited financial results for Q4 FY26 and the full fiscal year 2026.
What If...?
Explore alternate histories. What if New Delhi Television Limited (NDTV) made different choices?