Cyril Amarchand Mangaldas acted as the Indian legal counsel to New Delhi Television Limited (“ Company”) in its rights issue of 48,353,450 fully paid-up equity shares, aggregating to Rs. 3,964.98 million (the “ Issue”). The Issue was undertaken by the Company in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Issue opened on September 22, 2025, and closed on October 8, 2025. The allotment pursuant to the rights issue was completed on October 9, 2025.
The Company is one of the leading entities in news broadcasting and digital journalism in India. It is engaged in news broadcasting, digital journalism, and the production of content across multiple platforms.
Following the majority stake acquisition in 2022, the Company is now a part of the Adani portfolio, which is among India’s top business houses with an integrated energy and infrastructure platform in India and a long track record of successfully executing large-scale projects.
The transaction team comprised Devaki Mankad, Partner (Regional Co-Head – Capital Markets – West); with the support from Jhalak Shah, Principal Associate; Akash Joshi, Senior Associate; Raksha Raina, Associate; Tanishq Mohta, Associate; Devansh Raheja, Associate; Archit Jain, Associate; and Akshat Sharma, Associate.