The Adani Group has formed a new company which will mark its entry into the media space. It is named AMG Media Networks Limited. Adani Enterprises Ltd. intimated the Bombay Stock Exchange and the National Stock Exchange of India about the incorporation of the company.
The letter to BSE and NSE, dated 27th April, 2022, states that Adani Enterprises Ltd. incorporated a WOS (Workplace Operating System) — AMG Media Networks Limited — on 26th April, with an initial authorised and paid-up share capital of Rs. 1,00,000 each, to carry on the business of media-related activities, including inter alia the publishing, advertising, broadcasting, distributing etc. of content over different types of media networks.
AMG Media Networks Ltd. will commence its business operations in due course.
As per the Registrar of Companies, AMG Media Networks has three directors — Pranav Vinod Adani, director at Adani Enterprises, Sanjay Pugalia, CEO and editor-in-chief, Media Initiatives, Adani Enterprises, and Sudipta Bhattacharya, chief technology officer of the Adani Group.