Tag: acquisition

  • NDTV to snap up GoodTimes channel in Rs 18 crore slump sale

    NDTV to snap up GoodTimes channel in Rs 18 crore slump sale

    NEW DELHI: New Delhi Television has approved the purchase of the GoodTimes channel from Lifestyle & Media Broadcasting in a slump sale valued at up to Rs 18 crore, a move that deepens its push into lifestyle broadcasting. The transaction will be funded through a mix of cash and television advertising inventory and is structured on a cash-free, debt-free basis. NDTV made this known through a regulatory filing on the Bombay stock exchange last weekend.

    GoodTimes, a fixture for fashion, food, travel and entertainment programming, will shift to NDTV as a going concern. Because Lifestyle & Media Broadcasting is a joint venture of NDTV, the deal qualifies as a related-party transaction, though the broadcaster emphasised that it is being executed on an arm’s-length basis and backed by an independent valuation from a registered valuer. NDTV added that its promoters and group companies hold no direct stake in the seller beyond any indirect shareholding.

    Completion is subject to routine corporate and regulatory clearances, including approval from the ministry of information and broadcasting for the transfer of the channel licence. NDTV expects the process to close within roughly three months.

    Executives say the acquisition aligns with NDTV’s long-term growth strategy, broadening its content portfolio and operational reach. The company believes folding GoodTimes into its network will strengthen its brand presence, diversify revenue streams and enhance value for shareholders as competition in India’s broadcasting market heats up.

  • Doms Industries inks 51 per cent stake in Super Treads to bulk up stationery play

    Doms Industries inks 51 per cent stake in Super Treads to bulk up stationery play

    MUMBAI: Doms Industries Limited has acquired a 51 per cent equity stake in Super Treads Private Limited (STPL) for up to Rs 6.12 crore, the company confirmed after a board meeting held on May 19. The strategic acquisition will be executed through a secondary share purchase, subject to due diligence and regulatory clearances.

    The move is aimed at strengthening Doms’ manufacturing base in the paper stationery segment and extending its reach in eastern India. STPL, which has been in operation for over two decades, has built its niche as an OEM supplier specialising in notebooks and paper stationery.

    “Our proposed acquisition of a majority stake in STPL is a key step in enhancing our manufacturing capacities and geographically diversifying our paper stationery infrastructure to efficiently reach our consumers, thus further strengthening our competitiveness in this segment,” said Doms Industries Ltd MD Santosh Raveshia.

    He added, “This investment aligns with our vision of leveraging our growing brand reputation and well-entrenched distribution network to deliver our unique and differentiated range of products at the most competitive prices. With Rakesh Maheshwari and his team, we have got this wonderful opportunity to partner with great technocrats, like-minded entrepreneurs who have a great zeal to offer something unique to the market. We are confident that this partnership would lead to significant long-term growth and value creation for all of us”.

    STPL promoter director Rakesh Kumar Maheshwari described the deal as a strategic inflection point. “This partnership represents a strategic milestone for our company, combining our manufacturing expertise with Doms’ national distribution capabilities and established brand. This collaboration will be instrumental in realising our full potential and enable us to explore opportunities, thereby unlocking new avenues for growth and innovation. In Doms, we have found a perfect strategic partner to help us pursue a brand-led business journey”, he said.

    Once finalised, STPL will become part of the broader Doms Group portfolio, which already includes Pioneer Stationery Private Ltd, Micro Wood Private Limited, Skido Industries Private Limited, Uniclan Healthcare Private Limited and associate firm Clapjoy Innovations Private Ltd.

    Marathon Capital Advisory Private Limited served as the strategic advisor to Doms on this acquisition.

  • Ipsos knows ‘where-to’ go with Aussie public research move

    Ipsos knows ‘where-to’ go with Aussie public research move

    MUMBAI: It’s a ‘where-to’ next for Ipsos in Australia! The global research giant has strengthened its foothold in the public sector with the acquisition of Whereto Research, a leading player in public policy and government communication evaluation.

    Whereto, based in Melbourne, is well-known for its expertise in assessing public sector strategies. Ipsos, which has been in Australia for over 25 years, now combines this local expertise with its international capabilities. The acquisition promises to offer a wider range of solutions to clients in both federal and state governments.

    Ipsos, ceo, Ben Page stated: “Whereto Research’s expertise in public sector and federal research in Australia, combined with Ipsos’ international presence in this space, will allow us to offer a broader range of solutions to our Australian clients. We look forward to collaborating with the Whereto Research teams to build the best business in Australia serving national and state governments’ research and evaluation needs.”

    Whereto Research, co-directors, Catherine Boekel & Penny Burke added: “Joining Ipsos is a tremendous opportunity for Whereto Research. Integrating into a leading international market research group will enable us to accelerate our development and offer our clients global solutions. We share the same passion for excellence and innovation with Ipsos, and we are convinced that this collaboration will create value for our clients and employees.”

    Ipsos is a global market research and polling company, operating in 90 markets and employing over 20,000 people.

  • Good Glamm Group completes 100 pre cent acquisition of The Moms Co

    Good Glamm Group completes 100 pre cent acquisition of The Moms Co

    Mumbai: The Good Glamm Group, a direct-to-consumer beauty and personal care announced completion of 100 per cent acquisition of The Moms Co. This comes on the heels of the group announcing the completion of its Sirona transaction and its increases in shareholding in its other portfolio brands Organic Harvest and Winkl.

    In October 2021, the Good Glamm Group acquired a majority stake in The Moms Co. through a cash and stock deal, leading to partial exits for The Moms Co. founders and full exits for investors like DSG Capital and Saama Capital. The remaining shares held by the founders were fully acquired by Good Glamm Group over the last two years, completing a 100 per cent acquisition.

    Over the past three years, key functions of The Moms Co. have been integrated into the Good Glamm Group’s operations. After leading the business for a year post-acquisition, the founders stepped down from day-to-day roles last year, transitioning full control to Good Glamm Group’s central teams. Since the acquisition, The Moms Co. has seen rapid growth, driven by the direct-to-consumer channel using Good Glamm Group’s content-creator-commerce flywheel.

    The brand has also expanded internationally, retailing in Carrefour and Lulu in the UAE. And is now preparing to enter additional international markets.

    “It has been wonderful to see the Good Glamm team integrate The Moms Co across various functions and grow the brand over the last two years. We continue to cheer for and are excited for, what lays ahead for The Moms Co and the Good Glamm Group and wish the teams all the success in this next phase of growth” added The Moms Co founders Malika Sadani and Mohit Sadani.

    “It has been an incredible journey integrating The Moms Co into the broader Good Glamm Group framework to scale the business across D2C, offline, and international markets. The Moms Co is highly trusted for its proven efficacy among moms and babies. The brand experienced significant growth over the last two years and we aim to maintain this momentum by leveraging our content-to-commerce growth engine.” said Good Glamm Group, froup founder Darpan Sanghvi

    In August 2023, The Moms Co. had launched ‘The Mompreneurs Show – The Hunt for India’s Top Mom-led Startups’, a pioneering initiative aimed at supporting and mentoring mom micro-entrepreneurs across India. The show garnered more than 1 lakh registrations from mom-led startups, out of which 80 finalists received mentorship from industry leaders. The Top 3 winners of The Moms Co Mompreneurs Show receive financial and marketing grants from The Good Glamm Group and a chance to get co-investments from members of the advisory board and jury.

    Looking ahead, Good Glamm Group remains committed to driving innovation, market expansion, and customer satisfaction. Future initiatives include launching new products, expanding into international markets, and enhancing digital capabilities to maintain a competitive edge in the beauty and personal care industry.

  • TCPL to fund combined acquisitions by cash reserve & bridge financing

    TCPL to fund combined acquisitions by cash reserve & bridge financing

    Mumbai: Tata Consumers Products Limited (TCPL) would fund its acquisitions of Capital Foods Limited and Organic India Limited having a combined enterprise value of Rs 7000 crores. Through internal cash reserve and bridge financing, MD CEO Sunil Dsouza said on Sunday. ‘Both acquisitions operate in areas which offer’ far attractive ‘ and business is growing at a healthy pace,’ he said.

    Besides, TCPL will continue to strengthen its portfolio in the food and beverage segment organically to fill the gaps but also scout for inorganic growth opportunities if someone offers a better brand, technology, and team, he added.

    Last Friday TCPL announced the complete acquisition of Capital Foods which owns brands like Ching’s Secret and Smith & Jones at an enterprise valuation of Rs 5100 crore and Fab India backed organic India, which operates in the health and wellness category at an enterprise value of Rs 1900 crore.

    TCPL board is scheduled to meet on 19 January to consider the proposal for fundraising by debt issues in the form of commercial papers/debentures and equity issues.

  • Adani Group announces open offer launch on  22 November

    Adani Group announces open offer launch on 22 November

    Mumbai: In a regulatory filing with the stock exchanges, NDTV said that the Adani Group on Friday announced a revised schedule for its proposed open offer to buy a 26 per cent public shareholding in the news network.

    The filing states that the Adani open offer will now likely begin accepting subscriptions on 22 November and end on 5 December.

    Previous dates for Adani’s open offer were from 17 October to 1 November.

    In August, Gautam Adani entities acquired Vishva Pradhan Commercial Pvt Ltd (VCPL), a lesser-known company that had lent the founders of NDTV more than Rs 400 crore.

    Also read : AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

    VPCL lent the money more than a decade ago in exchange for warrants that allowed it to buy a 29.18 per cent stake in NDTV at any time.

    VCPL, in collaboration with AMG Media Networks and Adani Enterprises, has proposed to acquire an additional 26 per cent, or 1.67 crore equity shares, at a price of Rs 294 per share.

    The promoters of NDTV had challenged the open offer and the acquisition of VCPL’s stake, claiming that the deal could not proceed without the approval of Sebi as well as the income tax department.

    The Adani Group had previously denied claims that the stake sale would require tax clearance.

    The NDTV promoters claimed that they were completely unaware of the takeover and that it was carried out without their consent.

    Following the transaction, the acquirer (Adanis) will not directly own any equity shares in the target company (NDTV), but will own at least 99.50 per cent and up to 100 per cent of the promoter company’s paid-up share capital (RRPR Holdings).

    The proposed sale of NDTV and its subsidiary, NDTV Networks Ltd., which together own 20 per cent of Malaysian media company Astro Awani Network Sdn Bhd, has been postponed in the meantime.

    By letter dated 9 November the Central Bureau of Investigation withheld for the time being its approval of the transaction.

  • Elon Musk makes a human appeal to advertisers few hours before Twitter deal

    Elon Musk makes a human appeal to advertisers few hours before Twitter deal

    Mumbai: Elon Musk, the billionaire businessman, donned a serious hat with his human appeal on Twitter, just hours after his amusing entry at the company’s headquarters in San Francisco, California, with a toilet sink in his hand on Thursday. He also posted a video on the social media platform with the caption, ‘Entering Twitter HQ-Let that sink in.’ And this time around, the Tesla chief is determined to seal the $44 billion deal on 28 October, which is reflected in his Twitter bio as it now reads “Chief Twit.”

    In his most recent post, Musk expresses his concern, has requested advertisers to work together, and says that he is buying Twitter to help humanity. The post reads, “I wanted to reach out personally to share my motivation for acquiring Twitter. There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”

    He goes on, “The reason I acquired Twitter is because it is important for the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner without resorting to violence. There is currently a great danger that social media will splinter into far right-wing and far left-wing echo chambers that generate more hate and divide our society.”

    As Musk points out in his post, “In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarised extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost.”

    Citing his reasons for buying out the social media platform, he explains, “That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognising that failure in pursuing this goal, despite our best efforts, is a very real possibility.”

    He adds, “That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences! In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.”

    “I also very much believe that advertising, when done right, can delight, entertain, and inform you; it can show you a service or product or medical treatment that you never knew existed but is right for you. For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content,” brings out Musk.

    He wraps up his post with, “Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise. To everyone who has partnered with us, I thank you. Let us build something extraordinary together.”

    Musk originally offered to buy the social media company earlier in April. But later backed out of the deal in July. After Twitter sued the 51-year-old billionaire, he offered to complete the deal. The court ordered Musk to do so by 28 October 2022.

  • WPP acquires remaining stake in MediaCom India from Sam Balsara & Lara Balsara Vajifdar

    WPP acquires remaining stake in MediaCom India from Sam Balsara & Lara Balsara Vajifdar

    Mumbai: WPP announced that it has purchased the remaining 26 per cent stake in MediaCom Communications in India from Sam Balsara and Lara Balsara Vajifdar. 

    According to the deal signed, Sam Balsara and Lara Balsara Vajifdar entered into a discussion with the network agreeing to exit MediaCom in the interest of its clients to enable the merger.

    Sam Balsara and his family first entered into a contract with WPP in 2008 under which the Balsara family held 51 per cent. The Madison promoters sold 25 per cent of the business in 2017.

    Speaking on the agreement, Sam Balsara said, “This innovative partnership we invested in nearly 15 years ago has been a great success for all parties. It has established MediaCom in India as a fast-growing and highly respected agency by advertisers.”

    MediaCom Global CEO Nick Lawson commented, “It has been a pleasure working with Sam Balsara and Lara Balsara as we grew this successful business in India. We will build on that legacy to deliver the agency model our clients want for the future – founded on brilliant strategy and brand-building capabilities, with pioneering digital expertise running throughout.”

    This acquisition is a part of WPP’s strategy of investing in fast growth markets, new media and digital. On 26 April 2022, WPP announced that global agencies MediaCom and Essence would merge to form EssenceMedia.com. 

  • “This exercise of rights by VCPL was executed without any consent of the founders”: NDTV

    “This exercise of rights by VCPL was executed without any consent of the founders”: NDTV

    Mumbai: Hours after the announcement, the indirect acquisition of a 29.18 per cent stake in news broadcaster New Delhi Television Limited (NDTV) by a wholly owned subsidiary of Adani Enterprises’ AMG Media Networks Limited (AMNL), a document related to the development, accessed by Indiantelevision.com, stated, “This exercise of rights by VCPL was executed without any input from, conversation with, or consent of the NDTV founders, who, like NDTV, have been made aware of this exercise of rights only today. As recently as yesterday, NDTV had informed the stock exchanges that there was no change in the shareholding of its founders.”

    Also, as informed earlier, AMNL will also present an open offer to acquire another 26 per cent stake in the media house.

    The statement further added, “Without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, a notice has been served upon them by Vishvapradhan Commercial Private Limited (VCPL), stating that it (VCPL) has exercised its rights to acquire 99.50 per cent control of RRPR Holding Private Limited (RRPRH), the promoter-owned company that owns 29.18 per cent of NDTV.”

    In a statement released on 23 August, the Adani Group said, “RRPR is a promoter group company of NDTV (NDTV, BSE: 532529) and holds a 29.18 per cent stake in NDTV. VCPL, along with AMNL & AEL (persons acting in concert), will launch an open offer to acquire up to a 26 per cent stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.”

    Also read : AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

    Simultaneously, NDTV management also clarified that the notice from VCPL is based on a loan agreement it entered into with NDTV founders Radhika and Prannoy Roy in 2009-10. “The notice states that VCPL has exercised its option to convert 19,90,000 warrants into equity shares of RRPRH at Rs 10 per share and that a total of Rs 1.99 crore has been transferred to RRPRH.”

    RRPRH, the owner of 29.18 per cent of NDTV, has been told to transfer all its equity shares to VCPL within two days.

    NDTV has also received a copy of the public announcement by VCPL dated 23 August of an open offer to acquire up to 26 per cent of the voting share capital of NDTV at Rs 294 per share (up to 16,762,530 fully paid-up equity shares) as per the requirements of the SEBI (substantial acquisition of shares and takeovers) Regulations, 2011.

  • AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

    AMG Media Networks to indirectly acquire 29.18% stake in NDTV; launches open offer

    Mumbai : AMG Media Networks Limited (AMNL), a division of the Adani group, will indirectly purchase a 29.18 percent stake in New Delhi Television Ltd (NDTV) and make an open offer for a further 26 percent stake in the media company, the Adani Group said in a statement.

    Adani entities made Rs 493 crore open offer for 26 per cent stake in NDTV at Rs 294 per share. The media giant’s shares closed 5 per cent higher today at ₹376.55 a piece.

    “AMNL’s wholly owned subsidiary Vishvapradhan Commercial Private Ltd (VCPL) holds warrants of RRPR Holding Private Limited (RRPR) entitling it to convert them into 99.99 percent stake in RRPR. VCPL has exercised warrants to acquire 99.5 percent stake in RRPR,” said a company’s statement.

    It further states, “Such acquisition will result in VCPL acquiring control of RRPR. RRPR is a promoter group company of NDTV (NDTV, BSE: 532529) and holds 29.18 percent stake in NDTV. VCPL, along with AMNL & AEL (persons acting in concert), will launch an open offer to acquire up to 26 percent stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.”

    NDTV is a leading media house that has pioneered the delivery of credible news for over three decades. The company operates three national news channels – NDTV 24×7, NDTV India, and NDTV Profit. It also has a strong online presence and remains one of the most followed news handles on social media with more than 35 million followers across various platforms.

    AMG Media Networks Limited CEO Sanjay Pugalia also said in a statement, “This acquisition is a significant milestone in the journey of AMNL’s goal to pave the path of new age media across platforms.”

    He further added, “AMNL seeks to empower Indian citizens, consumers and those interested in India, with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies, NDTV is the most suitable broadcast and digital platform to deliver on our vision. We look forward to strengthening NDTV’s leadership in news delivery.”

    NDTV recorded a revenue of Rs 421 crore with earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 123 crore and a net profit of Rs 85 crore in FY22 with negligible debt.