New Delhi Television Ltd (NDTV) has unveiled a significant rights issue, aiming to raise ₹396.50 crore by offering fully paid-up equity shares to its eligible shareholders. Approved by the Board in September 2025, this move is positioned as a strategic effort to strengthen the company’s financial base, fuel expansion plans, and reduce debt amid a shifting media landscape.
Key Details of the Rights Issue
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The issue size comprises 4,83,53,450 fully paid-up equity shares with a face value of ₹4 each.
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The Rights Issue Price is set at ₹82 per share, which includes a premium of ₹78 per share, payable in full at the time of application.
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Rights equity shares will be offered in the ratio of 3 shares for every 4 shares held by shareholders on the record date.
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The record date to identify eligible shareholders is Friday, September 12, 2025.
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Eligibility to participate excludes shareholders with less than 4 shares, though such shareholders may apply for additional shares with preferential allotment.
Timeline and Process
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Rights Entitlements will be credited by September 16, 2025.
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The Issue will open on September 22 and close on October 8, 2025, with the possibility of extension up to 30 days.
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Shareholders can renounce their entitlements on the market until October 3, 2025, with special instructions for off-market transfers to be completed before the closing date.
Impact on Share Capital
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Pre-rights issue, the company had 64,471,267 fully paid equity shares outstanding.
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Upon full subscription, the post-issue share capital will rise to 112,824,717 shares.
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Fractional and Additional Share Entitlements
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Fractional entitlements arising from non-multiples of 4 shares will be ignored in entitlement calculations.
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Shareholders with ignored fractional entitlements receive preferential consideration for one additional equity share if they apply for extra shares.
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Shareholders holding fewer than 4 shares get zero entitlement but may apply for additional shares, although they cannot renounce these.
Strategic Objectives of the Issue
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NDTV intends to deploy the raised funds for multiple strategic purposes:
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Expanding its domestic and international distribution network.
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Investing in brand-building and new intellectual property development.
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Reducing existing debt to strengthen the balance sheet.
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Supporting general corporate purposes.
Context and Market Position
NDTV, now part of Adani Enterprises Ltd’s AMG Media Networks, is focusing on “digital-first” growth while maintaining its significant presence in television broadcasting. The rights issue follows a financially challenging period, including widened net losses, but signals a clear strategy to reposition and grow revenues through enhanced digital platform engagement, branded content, and regional and global expansion.
Access to New Shares and Shareholder Impact
Existing shareholders have the exclusive right to subscribe to this issue, allowing them to maintain or potentially increase their ownership in NDTV at a preferential price. Those who opt not to subscribe risk dilution of their stake. The move has been welcomed by the market, with NDTV's shares rising modestly after announcement, reflecting investor optimism about the company’s growth trajectory.
Final Notes
The Board approved the Letter of Offer, which will be filed with the Securities and Exchange Board of India (SEBI), BSE Limited, and National Stock Exchange of India Limited, detailing all terms, conditions, and application procedures. This follows the in-principle approval received from the exchanges on September 4, 2025.
This rights issue marks a pivotal moment for NDTV, equipping the company with capital to navigate a challenging media environment and position itself for competitive growth in the rapidly evolving digital content industry.
Source: Company disclosure to the Stock Exchanges
