NDTV’s £400 Crore Rights Issue: A Strategic Move for Growth Under Adani Leadership

A New Chapter for NDTV

NDTV Limited, which became part of the Adani Group in 2022, is entering a crucial phase with its board of directors set to meet on September 2, 2025, to consider a fundraising exercise through a rights issue or other equity instruments.

The Adani-owned broadcaster has announced plans for a capital raise aimed at strengthening its balance sheet and improving financial flexibility, with the board setting a ceiling of Rs 400 crore for the issue.

Current Financial Position

The broadcaster’s financial situation has been challenging, with NDTV reporting a net loss of Rs 70.65 crore in the quarter ending June 30, 2025. These losses have widened by almost 50% compared to the previous year’s figure of Rs 47.02 crore.

Strategic Vision and Implementation

The capital raise is strategically designed to strengthen NDTV’s financial position, with plans to utilize the proceeds for debt reduction, brand building investments, new property development, and funding distribution expansion both domestically and internationally.

According to Rahul Kanwal, Chief Executive Officer and Editor-in-Chief of NDTV, the rights issue represents a critical step for the broadcaster. The raised resources will be used to expand reach and deepen impact while maintaining credible journalism standards, with a particular focus on exploring new growth areas in the digital realm.

Ownership Structure and Impact

The rights issue will allow existing shareholders to purchase additional shares proportional to their current holdings, typically at a discounted price. While shareholders who participate will maintain their ownership percentage, those who don’t will face dilution. The Adani Group-controlled promoter entities are expected to fully subscribe to their entitlement, potentially increasing their shareholding further.

Looking Ahead

This decision comes at a pivotal moment for NDTV, which has been realigning its business operations as part of Adani Media Networks since the 2022 acquisition. The capital infusion is expected to support its transformation into a digital-first product, enhance content investments, and strengthen its position in an increasingly competitive media market.