India’s Adani Group raises stake in news agency IANS

BENGALURU (Reuters) – A media arm of India’s Adani Group on Wednesday said it increased its stake in IANS India by subscribing to fresh shares issued by the news agency worth 50 million rupees ($601,801).

AMG Media Networks, a unit of Indian billionaire Gautam Adani’s flagship firm Adani Enterprises has increased its ownership of IANS shares with voting rights to 76%, and nearly all non-voting shares, up from 50.5% each earlier.

($1 = 83.0840 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)