Adani Enterprises invests Rs 900 crore in AMG Media Networks

Adani Enterprises invested Rs 900 crore in its wholly-owned subsidiary, AMG Media Networks. According to the company’s annual report, the investment was made through the subscription of 90 crore 0 per cent compulsory convertible debentures, with a face value of Rs 10.

The company has been actively assessing assets in the media and entertainment industry, which it recognized as a critical area for growth. AMG purchased 76 percent of the category I shares and 99.26 percent of the category II shares of the news agency IANS India earlier this year. IANS thus joined the group as a subsidiary on January 17.

Quintillion Business Media, the proprietor and operator of the business news website BQ Prime, was purchased by AMG Media for Rs 100 crore in two transactions in FY23 and FY24. The merger of BQ Prime formed NDTV Profit.
BCS Bureau