Next Radio Limited (NRL) has allotted 21,20,00,453 equity shares to HT Media Limited, resulting from the conversion of outstanding debt of INR 212 Crore owed by NRL.

Following this conversion, HT Media now owns 86.47% of NRL's equity, elevating NRL to a direct subsidiary.

This strategic move enhances HT Media’s control over NRL and aligns with regulatory requirements under its radio licenses.

The shareholding breakdown shows HT Media's significant increase in ownership, reinforcing its position in the media sector and reflecting a strong financial maneuver.