A media arm of Adani Group on Wednesday said it increased its stake in IANS India by subscribing to fresh shares issued by the news agency worth Rs 5 crore.

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

The acquisition is of strategic nature in the interest of AMNL.

IANS was incorporated in India and registered with the Registrar of Companies, Delhi at Delhi on 26th December, 1994. 

(With Reuters inputs)