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Adani group firms make an open offer to acquire additional 26% stake in NDTV

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The move follows indirect acquisition of 29.18% shareholding in the media and news broadcaster.

The move follows indirect acquisition of 29.18% shareholding in the media and news broadcaster.

Adani group firms on August 23 made an offer to acquire 26% stake of New Delhi Television Ltd (NDTV) following indirect acquisition of 29.18% shareholding in the media and news broadcaster.

Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of ₹294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of ₹4 from the public shareholders.

A public announcement has been made by JM Financial Ltd, which is managing the offer on behalf of the acquirers.

“The offer price is higher than the price determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations,” the offer said.

On August 23, shares of NDTV settled at ₹366.20 on BSE, up 2.61% from the previous close.

Its revenue for the financial year ended March 31, 2022 was ₹230.91 crore.



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