Adani Enterprises invested ₹900 crore in its wholly-owned media arm, AMG Media Networks, in the last financial year by subscribing to 90 crore 0% compulsory convertible debentures of ₹10 each, according to the company’s annual report. The Adani flagship has been on an acquisition spree after incorporating AMG Media Networks in April 2022. The company has been actively evaluating assets in the media and entertainment sector. AMG acquired 76% of category I and 99.26% of category II shares of news agency IANS India earlier this year. IANS became a subsidiary of the group on January 17.
In its annual report, Adani said it is finalising the fair value of IANS’ assets and liabilities as per Ind AS 103 accounting standards.
