Gautam Adani on Monday moved closer in his attempt to take over New Delhi Television Ltd (NDTV) when a promoter entity of the media firm issued shares to an Adani group firm. The share transfer will give Adani control over 29.18 per cent of NDTV.

In a late evening regulatory filing, NDTV said its promoter group vehicle RRPR Holding Pvt Ltd (RRPRH) has issued equity shares constituting 99.5 per cent of its holding in Vishvapradhan Commercial Pvt Ltd (VCPL).

In August this year, the Adani group had acquired VCPL, which said it holds warrants of RRPRH.

VCPL said it had exercised these warrants to acquire the 99.5 per cent stake in RRPRH and that such acquisition would result in VCPL acquiring control of RRPRH.

The Roys had then said that VCPL has exercised its rights to acquire control of RRPRH without any discussion with the company or them.

Following the acquisition of VCPL, three Adani group firms said that they were jointly making an open offer to acquire an additional 26 per cent of the media firm from its minority shareholders. However, RRPRH had then not transferred the shares to VCPL. This was done on Monday.

“The shares have been issued in consonance with the conversion notice dated August 23, 2022, following the expiry of the two-year restraint imposed by the Securities and Exchange Board of India (Sebi) in the matter of dealing in securities, on November 26, 2022,’’ NDTV said on Monday.

It added that Sebi has not responded to a specific letter sent on August 28, on behalf of RRPRH seeking clarification, but has since approved the open offer.