Undeclared Emergency in India By Pm Narendra Modi

Adani Group Acquires IANS News Agency, Now Under Adani Control

Dec 17, 2023

Adani Enterprises, Gautam Adani’s flagship, acquires a 50.5% stake in IANS for 510,000 rupees, gaining full operational control. IANS reported a revenue of over 118.6 million rupees in the 2022/23 financial year.

Adani Group Acquires IANS News Agency, Now Under Adani Control - Daily India Post

Adani Group acquires IANS News Agency, now under Adani control. In a regulatory filing, Adani Enterprises, the entity overseeing the group’s media interests, announced that its subsidiary, “AMG Media Networks Ltd,” has acquired a 50.50% stake comprising equity shares of IANS India Pvt Ltd. The acquisition price was not disclosed.

Billionaire Gautam Adani’s conglomerate has secured a majority stake in the news agency IANS India Pvt Ltd for an undisclosed amount, further expanding its presence in the media sector.

In the filing, Adani Enterprises revealed, “AMNL has also signed a shareholders’ agreement with IANS and Sandeep Bamzai, a shareholder of IANS, to record their inter-se rights with respect to IANS.” IANS reported a revenue of Rs 11.86 crore in the fiscal year 2022-23.

“All operational and management control of IANS will be with AMNL, and AMNL will have the right to appoint all directors of IANS,” stated the filing. “Pursuant to the acquisition as set out above, IANS is now a subsidiary of AMNL.”

Indian Adani group acquired news agency IANS - Daily India Post

Adani entered the media business in March last year by acquiring Quintillion Business Media, the operator of the BQ Prime business and financial news digital media platform. In December 2022, it further expanded its media portfolio by acquiring almost a 65% stake in the broadcaster NDTV.

AMNL served as the vehicle for these acquisitions, and the filing emphasized that “IANS is now a subsidiary of AMNL.” Adani, a first-generation entrepreneur, initially began as a commodities trader in 1988 and evolved into India’s largest private player in infrastructure, with 13 ports and eight airports. The conglomerate has diversified into various sectors, including coal production, energy distribution, data centers, and recently, cement and copper. Additionally, it acquired 5G telecom spectrum to establish a private network.

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