Adani | Quint
Adani Group to acquire 49 percent stake in digital news platform Quint
Mumbai/IBNS: Indian billionaire Gautam Adani's Adani Group is set to acquire 49 percent stake in Raghav Bahl-run digital business news platform Quintillion Business Media, popularly know as The Quint, media reports said.
Adani Group's unit AMG Media Networks is set to buy the stake for an undisclosed sum as per a regulatory filling to the exchanges, an Economic Times report says.
Earlier this year, Adani Enterprises forayed into the media industry by acquiring a minority stake in Quintillion Business Media.
Amid the reports of Adani's new buy, Quint's shares Monday rose sharply by over nine percent.
Gautam Adani-led Adani Group has acquired Holcim's stake in Ambuja Cement and its subsidiary ACC at a price tag of $10.5 billion (around Rs 81,361 crore).
A day after the announcement, the shares of Ambuja Cements and unit ACC appreciated 2.9% and 6.4%, respectively, Monday.
At present, Aditya Birla group, which owns the brand ultra tech cement, is India's top cement producer at a capacity of 117 metric tonnes per annum.
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