Archive · 18 Dec 2025
Sebi Alleges Pranav Adani of Insider Trading in NDTV Open Offer
The Securities and Exchange Board of India (Sebi) has accused Pranav Adani, a senior executive in the Adani Group, of sharing secret information about a big deal involving NDTV before it was made public.
This information was allegedly shared with his brothers-in-law, Kunal and Nrupal Shah, and their father, Dhanpal Shah.
Sebi says they used this information to buy NDTV shares before the deal was announced, which is against the rules.
The deal was for the Adani Group to buy a big part of NDTV.
Sebi is now looking into this and might punish them if they are found guilty.
Pranav Adani and his relatives have not responded to these charges yet.
Sebi alleges Pranav Adani shared unpublished price-sensitive information about Adani Group's 2022 takeover bid for NDTV with his brothers-in-law.
A show-cause notice was issued to Pranav Adani, Kunal Shah, Nrupal Shah, and Dhanpal Shah on October 15.
The open offer involved a 26% stake in NDTV, valued at Rs 492.81 crore.
Sebi's investigation found that Kunal Shah allegedly bought NDTV shares during the UPSI period, making significant profits.
Sebi has initiated adjudication proceedings to determine potential penalties for violating insider trading norms.
- Who
- Pranav Adani, Kunal Shah, Nrupal Shah, Dhanpal Shah
- What
- Allegations of insider trading related to NDTV open offer
- When
- Show-cause notice issued on October 15, investigation period from May 2, 2022, to September 15, 2022
- Where
- India, involving NDTV and Adani Group
- Why
- Alleged sharing and trading of unpublished price-sensitive information
- Pranav Adani
- Senior Adani Group executive and nephew of Gautam Adani
- Allegations
- Sharing unpublished price-sensitive information ahead of Adani Group's 2022 takeover bid for NDTV
- Show-Cause Notice
- Issued to Pranav Adani, Kunal Shah, Nrupal Shah, and Dhanpal Shah on October 15
- NDTV Open Offer
- 26% stake, 16.76 million shares at Rs 294 apiece, valued at Rs 492.81 crore
- Investigation Period
- May 2, 2022, to September 15, 2022
- Alleged Profits
- Kunal Shah: Rs 52.89 lakh, Nrupal Shah: Rs 52.7 lakh, Dhanpal Shah: Rs 32.6 lakh
- Sebi's Action
- Initiated adjudication proceedings for potential penalties
