Sunday, March 3, 2024
Home » Adani Enterprises Acquires Remaining Stake in Quintillion Business Media

Adani Enterprises Acquires Remaining Stake in Quintillion Business Media

by Koushik Gope
0 comment

Adani Enterprises Ltd. has acquired the remaining 51% stake in Quintillion Business Media Pvt Ltd. (QBML). This acquisition grants them full control of the digital business news platform BQ Prime, which was previously co-owned by Raghav Bahl’s Quintillion Media.

Here’s what we know about the deal:

  • Date: Dec 8, 2023
  • Acquiring entity: Adani Enterprises Ltd. through its subsidiary AMG Media Networks Ltd. (AMNL)
  • Target entity: Quintillion Business Media Pvt Ltd. (QBML)
  • Stake acquired: 51%
  • Financial details: Undisclosed

This acquisition marks a significant move by Adani Group in the Indian media industry:

  • First foray into media: This is Adani’s first direct investment in the media sector, following their acquisition of a 65% stake in the news broadcaster NDTV in December 2022.
  • Expansion into digital media: The acquisition of BQ Prime gives Adani a strong foothold in the growing digital business news market in India.
  • Integration with existing businesses: BQ Prime’s focus on business and financial news could potentially be integrated with Adani Group’s existing businesses, offering valuable insights and analysis.

While the financial details of the deal haven’t been disclosed, experts anticipate a significant value attached to the acquisition. The move is expected to strengthen Adani’s media presence and influence in India.

You may also like

Leave a Comment

Welcome to the world of ISMDU, here we help you stay up-to-date on the latest market trends and news from around the world. Our mission is simple: to educate our readers about what’s happening in the stock market, so they can be prepared when opportunities arise.

© 2023 ISMDU • Designed by Dimagital Media