The Gautam Adani-led conglomerate, the Adani Group, has recently increased its stakes in the popular news agency, IANS India Private Limited. This has allowed the company to take full control of the news agency. This has been a great way of consolidating the Group’s presence in the media sector and diversifying its portfolio. The Adani Group has always been interested in the media sector. It has also taken up multiple ventures in the past, which reflects its keen interest in the business sector. This is yet another big move taken by the business group in the media sector after the Group got some relief from the Adani Group controversies.
The Increased Stakes in IANS India Private Limited
The Adani Group had initially bought around 50.5% stake in IANS. Now, it has decided to raise its stakes to 76% with voting rights and to 99.26% without voting rights, as per certain officials from the Adani Group. The global conglomerate sees this as a well-thought move to increase its position in the media sector and stop the Adani Group controversies. The present cash outgo for this purchase is INR 5 crore. Adani Enterprises Limited, the flagship firm of the Adani Group, said that in continuation to the early intimation made on 15 December 2023, the Adani Group would like to inform that AMG Media Networks Limited (AMNL), which is a wholly-owned subsidiary of the Adani Group, has recently increased its stake in the media company by subscribing to fresh shares issued by IANS.
The allotment of the shares was already approved by the IANS board at a meeting held on 16 January 2024. On 15 December last year, Adani Group acquired 50% stakes in IANS for an undisclosed sum of money. Presently, an additional 25.5% equity stakes have been acquired. This makes the total stake of the company to 76%. IANS has an authorised share capital of INR 11 crore and a revenue of INR 11.86 crore in FY23. IANS is presently a subsidiary of AMNL, the media wing of the Adani Group. The acquisition has been highly strategic and will benefit the interests of both AMNL and our nation’s news and media sector.
The Adani Group’s Presence in The Media Sector
The Adani Group extended its presence in the media business in March 2023 by acquiring Quintillion Business Media, another big name in the media industry. This company operates the financial and busi ness news digital media platform BQ Prime. It took a nearly 65% stake in the broadcaster NDTV in December. AMNL had a crucial role to play in each of these acquisitions. Previously, the company held 37.45% stakes in NDTV. However, later, it decided to increase its stake in the business group further. It will also take up more projects in the media sector in the upcoming years to extend its hold over the particular business sector.
Why Did the Adani Group Choose to Venture into The Media Sector?
By venturing into the news industry, the Adani Group can easily exchange its ideas with the world. It will also be able to build an excellent corporate image for itself by sharing its insights on some of the biggest projects being taken up. It will also be able to respond quickly to Adani Group controversies. This will help the conglomerate build an extraordinary place for itself in the business world. The company will be able to rise above the horizons. The media industry is also a highly profitable one. By investing in this segment, the conglomerate will find it easier to earn revenue for its upcoming projects. It will also be able to attract the attention of investors. The company will also be able to build an enormous empire within a short tenure.
Conclusion
Gautam Adani started his business as a commodities trader in 1988, and since then, has been expanding his business. Very soon, he entered the infrastructural segment of India, where he started working on multiple infrastructure projects. He explored multiple crucial sectors of the country like airports, ports, roads, railways, data centers, media and much more. His strong presence in each of these sectors led to a massive growth and development in India. He has also been operating multiple projects abroad. His current interest in the media sector is largely governed by his goal to diversify his portfolio and expand his business. With time, we will see the conglomerate venturing deeper into this sector to build an excellent global presence.
